Perigon Wealth Management LLC Sells 5,000 Shares of Sunoco LP (NYSE:SUN)

Perigon Wealth Management LLC cut its position in shares of Sunoco LP (NYSE:SUN – Get Rating) by 46.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,801 shares of the oil and gas company’s stock after selling 5,000 shares during the period. Perigon Wealth Management LLC’s holdings in Sunoco were worth $226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sigma Planning Corp increased its position in shares of Sunoco by 0.8% during the second quarter. Sigma Planning Corp now owns 39,236 shares of the oil and gas company’s stock valued at $1,462,000 after purchasing an additional 329 shares during the period. UBS Group AG increased its position in shares of Sunoco by 31.9% during the second quarter. UBS Group AG now owns 254,395 shares of the oil and gas company’s stock valued at $9,476,000 after purchasing an additional 61,541 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Sunoco by 11.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,536 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 1,485 shares during the period. Tortoise Index Solutions LLC increased its position in shares of Sunoco by 1.8% during the third quarter. Tortoise Index Solutions LLC now owns 51,919 shares of the oil and gas company’s stock valued at $2,023,000 after purchasing an additional 909 shares during the period. Finally, WealthPlan Investment Management LLC bought a new stake in Sunoco in the third quarter valued at $453,000. 16.16% of the stock is currently owned by institutional investors.

Sunoco Price Performance

Shares of SUN stock opened at $41.60 on Friday. The stock’s fifty day moving average is $45.74 and its 200-day moving average is $43.01. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.83 and a current ratio of 1.41. The stock has a market capitalization of $4.18 billion, a PE ratio of 8.87 and a beta of 1.36. Sunoco LP has a 52 week low of $34.26 and a 52 week high of $48.59.

Sunoco (NYSE:SUN – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.35). Sunoco had a net margin of 1.85% and a return on equity of 49.43%. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $4.95 billion. During the same period last year, the company earned $0.95 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts expect that Sunoco LP will post 4.34 EPS for the current fiscal year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Stockholders of record on Tuesday, February 7th were paid a dividend of $0.8255 per share. This represents a $3.30 annualized dividend and a dividend yield of 7.94%. The ex-dividend date of this dividend was Monday, February 6th. Sunoco’s dividend payout ratio (DPR) is presently 70.36%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SUN shares. Citigroup upped their price target on Sunoco from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, February 21st. Mizuho upped their price target on Sunoco from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. StockNews.com started coverage on Sunoco in a research report on Thursday. They issued a “hold” rating on the stock. Barclays upped their price target on Sunoco from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Finally, Wells Fargo & Company upgraded Sunoco from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $43.00 to $47.00 in a report on Friday, December 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunoco currently has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Sunoco Company Profile

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Sunoco LP engages in the management and distribution of fuel products. It operates through Fuel Distribution and Marketing and All Other segments. The Fuel Distribution and Marketing segment supplies fuels and other petroleum products, which it supplies to third-party dealers and distributors, independent operators of commission agent, other commercial consumers of motor fuel and to retail locations.