Sunoco LP (NYSE:SUN) Shares Sold by Cascade Investment Group Inc.

Cascade Investment Group Inc. trimmed its holdings in shares of Sunoco LP (NYSE:SUN) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 26,080 shares of the oil and gas company’s stock after selling 1,700 shares during the quarter. Sunoco comprises approximately 1.0% of Cascade Investment Group Inc.’s holdings, making the stock its 29th largest holding. Cascade Investment Group Inc.’s holdings in Sunoco were worth $1,342,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC lifted its position in Sunoco by 11.7% during the third 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 during the period. JPMorgan Chase & Co. lifted its holdings in shares of Sunoco by 26.2% in the 3rd 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 purchased a new stake in shares of Sunoco in the second quarter worth about $1,222,000. International Assets Investment Management LLC grew its holdings in Sunoco by 5,437.3% during the third 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 purchased a new position in Sunoco during the second quarter valued at approximately $889,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays lifted their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.43.

Sunoco Stock Performance

Shares of Sunoco stock opened at $54.46 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The business’s 50 day moving average price is $52.98 and its 200 day moving average price is $53.41. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 12.52 and a beta of 1.36. Sunoco LP has a one year low of $49.45 and a one year high of $64.89.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share 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 firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period last year, the company earned $2.95 EPS. The business’s quarterly revenue was down 9.0% on a year-over-year basis. On average, research analysts predict that Sunoco LP will post 6.87 EPS for the current year.

Sunoco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is 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.