Waldron Private Wealth LLC Has $3.65 Million Position in Sunoco LP (NYSE:SUN)

Waldron Private Wealth LLC lowered its position in Sunoco LP (NYSE:SUN) by 40.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 71,000 shares of the oil and gas company’s stock after selling 49,000 shares during the period. Waldron Private Wealth LLC’s holdings in Sunoco were worth $3,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUN. B. Riley Wealth Advisors Inc. grew its holdings in shares of Sunoco by 1.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after buying an additional 190 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Sunoco by 0.8% in the third quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock worth $1,355,000 after purchasing an additional 194 shares in the last quarter. Tyche Wealth Partners LLC grew its position in Sunoco by 5.4% in the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 200 shares in the last quarter. World Investment Advisors LLC lifted its position in Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after buying an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of Sunoco by 2.6% in the 3rd quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after acquiring an additional 245 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SUN shares. Royal Bank of Canada upped their price objective on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays increased their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.43.

Sunoco Stock Performance

Shares of SUN stock opened at $56.39 on Friday. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $64.89. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.96 and a beta of 1.36. The company has a 50-day simple moving average of $53.58 and a 200 day simple moving average of $53.40. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sunoco’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. On average, sell-side analysts predict that Sunoco LP will post 9.63 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.8865 per share. This represents a $3.55 dividend on an annualized basis and a yield of 6.29%. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is currently 80.46%.

Sunoco Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.