Beach Investment Counsel Inc. PA trimmed its holdings in Sunoco LP (NYSE:SUN) by 37.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,428 shares of the oil and gas company’s stock after selling 6,866 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Sunoco were worth $338,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Sunoco by 6,579.2% in the first quarter. BlackRock Inc. now owns 677,603 shares of the oil and gas company’s stock worth $17,285,000 after purchasing an additional 667,458 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in Sunoco in the first quarter worth about $120,000. LPL Financial LLC boosted its position in Sunoco by 21.8% in the first quarter. LPL Financial LLC now owns 21,616 shares of the oil and gas company’s stock worth $551,000 after purchasing an additional 3,876 shares during the last quarter. Royal Bank of Canada boosted its position in Sunoco by 120.6% in the first quarter. Royal Bank of Canada now owns 80,889 shares of the oil and gas company’s stock worth $2,063,000 after purchasing an additional 44,221 shares during the last quarter. Finally, Adams Asset Advisors LLC boosted its position in Sunoco by 10.6% in the second quarter. Adams Asset Advisors LLC now owns 243,062 shares of the oil and gas company’s stock worth $6,066,000 after purchasing an additional 23,383 shares during the last quarter. Institutional investors own 28.53% of the company’s stock.
SUN stock opened at $27.55 on Monday. Sunoco LP has a twelve month low of $24.46 and a twelve month high of $33.11. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.67 and a current ratio of 1.07. The stock has a market cap of $2.73 billion, a PE ratio of 12.03 and a beta of 0.84.
Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, August 8th. The oil and gas company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Sunoco had a return on equity of 33.25% and a net margin of 0.86%. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm earned ($0.59) EPS. The business’s quarterly revenue was up 59.3% on a year-over-year basis. As a group, equities analysts forecast that Sunoco LP will post 2.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Tuesday, November 6th will be given a dividend of $0.8255 per share. The ex-dividend date is Monday, November 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 11.99%. Sunoco’s payout ratio is currently 144.10%.
Several research analysts have issued reports on the company. ValuEngine cut Sunoco from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Zacks Investment Research cut Sunoco from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. JPMorgan Chase & Co. cut Sunoco from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $32.00 in a research report on Friday, October 12th. Credit Suisse Group assumed coverage on Sunoco in a research report on Thursday, October 11th. They issued a “neutral” rating and a $31.00 target price on the stock. Finally, TheStreet raised Sunoco from a “c+” rating to a “b-” rating in a research report on Monday, September 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.17.
Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.
Featured Story: Stock Symbol
Want to see what other hedge funds are holding SUN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunoco LP (NYSE:SUN).
Receive News & Ratings for Sunoco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco and related companies with MarketBeat.com's FREE daily email newsletter.