Sunoco LP (NYSE:SUN) Shares Sold by PSI Advisors LLC

PSI Advisors LLC lowered its stake in shares of Sunoco LP (NYSE:SUN) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,201 shares of the oil and gas company’s stock after selling 365 shares during the period. PSI Advisors LLC’s holdings in Sunoco were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUN. Sanctuary Advisors LLC lifted its holdings in Sunoco by 11.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 96,377 shares of the oil and gas company’s stock valued at $5,236,000 after purchasing an additional 10,080 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after buying an additional 455,361 shares during the period. Gateway Advisory LLC acquired a new stake in Sunoco during the second quarter worth approximately $1,222,000. International Assets Investment Management LLC grew its stake in Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after acquiring an additional 562,435 shares during the period. Finally, XTX Topco Ltd acquired a new position in Sunoco in the 2nd quarter valued at $889,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Sunoco stock opened at $51.73 on Tuesday. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 11.89 and a beta of 1.36. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The stock’s 50-day moving average is $52.92 and its 200-day moving average is $53.51.

Sunoco (NYSE:SUN) last posted its quarterly 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). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the previous year, the business posted $2.95 EPS. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.8756 per share. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.77%. Sunoco’s payout ratio is 80.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SUN. Barclays raised their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.75.

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.