GraniteShares Advisors LLC Sells 350 Shares of Sunoco LP (NYSE:SUN)

GraniteShares Advisors LLC lessened its position in Sunoco LP (NYSE:SUN) by 1.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 32,855 shares of the oil and gas company’s stock after selling 350 shares during the period. Sunoco comprises about 1.3% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. GraniteShares Advisors LLC’s holdings in Sunoco were worth $1,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Sunoco during the fourth quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC purchased a new stake in Sunoco during the first quarter valued at approximately $26,000. Key Financial Inc increased its holdings in Sunoco by 7,627.3% during the first quarter. Key Financial Inc now owns 850 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 839 shares during the last quarter. Harbour Investments Inc. increased its holdings in Sunoco by 62.7% during the first quarter. Harbour Investments Inc. now owns 965 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 372 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in Sunoco during the fourth quarter valued at approximately $43,000. Institutional investors own 17.62% of the company’s stock.

Sunoco Stock Performance

Sunoco stock opened at $53.93 on Wednesday. The company’s 50-day moving average price is $49.41 and its 200-day moving average price is $46.20. Sunoco LP has a twelve month low of $40.81 and a twelve month high of $54.32. The company has a quick ratio of 1.07, a current ratio of 1.68 and a debt-to-equity ratio of 3.23. The company has a market cap of $5.42 billion, a PE ratio of 9.69 and a beta of 1.25.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $1.84. Sunoco had a net margin of 2.38% and a return on equity of 53.87%. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Sunoco LP will post 4.26 EPS for the current fiscal year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, October 30th will be paid a dividend of $0.842 per share. The ex-dividend date of this dividend is Friday, October 27th. This represents a $3.37 dividend on an annualized basis and a dividend yield of 6.25%. Sunoco’s dividend payout ratio is presently 60.61%.

Wall Street Analyst Weigh In

A number of analysts have commented on SUN shares. JPMorgan Chase & Co. upped their target price on shares of Sunoco from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 10th. Mizuho downgraded shares of Sunoco from a “buy” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a research report on Friday, September 29th. Raymond James lifted their target price on shares of Sunoco from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. Barclays lifted their target price on shares of Sunoco from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Finally, StockNews.com cut shares of Sunoco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.57.

Sunoco Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The company's Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel to commission agent locations.