Sunoco LP (NYSE:SUN) Stake Trimmed by 1900 Wealth Management LLC

1900 Wealth Management LLC cut its position in shares of Sunoco LP (NYSE:SUN) by 16.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,626 shares of the oil and gas company’s stock after selling 914 shares during the quarter. 1900 Wealth Management LLC’s holdings in Sunoco were worth $238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new stake in shares of Sunoco during the fourth quarter valued at approximately $53,000. Kieckhefer Group LLC purchased a new position in Sunoco during the 4th quarter worth approximately $129,000. Wilmington Savings Fund Society FSB acquired a new stake in Sunoco during the 3rd quarter valued at $165,000. World Investment Advisors LLC lifted its holdings in shares of Sunoco by 5.6% in the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 200 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Sunoco in the fourth quarter worth $204,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Down 2.3 %

SUN opened at $57.90 on Friday. The company has a market capitalization of $8.82 billion, a PE ratio of 13.31 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The business has a 50-day moving average of $53.91 and a 200-day moving average of $53.41.

Sunoco (NYSE:SUN) last issued its quarterly earnings data 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). The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sunoco’s revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 EPS. Equities research analysts forecast that Sunoco LP will post 9.63 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a $0.8865 dividend. This represents a $3.55 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s payout ratio is presently 80.46%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SUN shares. Royal Bank of Canada upped their price target on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays upped their target price on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Mizuho raised their price target on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Sunoco currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.43.

About Sunoco

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.