Sunoco LP (NYSE:SUN) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its stake in Sunoco LP (NYSE:SUN) by 26.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,474 shares of the oil and gas company’s stock after selling 10,426 shares during the period. Sigma Planning Corp’s holdings in Sunoco were worth $1,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of SUN. International Assets Investment Management LLC boosted its stake in Sunoco by 6,075.4% in the 4th quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock worth $34,419,000 after purchasing an additional 565,015 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Sunoco in the 1st quarter worth approximately $7,314,000. Miller Howard Investments Inc. NY boosted its stake in Sunoco by 56.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 350,787 shares of the oil and gas company’s stock worth $17,171,000 after purchasing an additional 126,626 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Sunoco by 104.4% in the 4th quarter. Wells Fargo & Company MN now owns 243,477 shares of the oil and gas company’s stock worth $10,494,000 after purchasing an additional 124,362 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Sunoco by 9.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,384,765 shares of the oil and gas company’s stock valued at $67,784,000 after acquiring an additional 122,388 shares during the period. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on SUN shares. Raymond James lifted their price objective on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Barclays lifted their price objective on shares of Sunoco from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Wells Fargo & Company lifted their price objective on shares of Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 20th. Mizuho lifted their price objective on shares of Sunoco from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, Citigroup cut shares of Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research note on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Sunoco has a consensus rating of “Hold” and a consensus target price of $62.71.

Sunoco Price Performance

NYSE:SUN opened at $55.50 on Monday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.40 and a quick ratio of 0.76. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 15.25 and a beta of 1.27. The company has a 50 day moving average price of $60.02 and a 200-day moving average price of $57.00. Sunoco LP has a 1-year low of $41.95 and a 1-year high of $64.89.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of $0.96 by ($2.46). The firm had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Sunoco had a net margin of 1.71% and a return on equity of 37.91%. Sunoco’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Sunoco LP will post 4.99 EPS for the current year.

Sunoco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were issued a $0.842 dividend. This represents a $3.37 annualized dividend and a yield of 6.07%. The ex-dividend date was Tuesday, February 6th. Sunoco’s payout ratio is presently 92.58%.

Insider Buying and Selling

In related news, Director David K. Skidmore purchased 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $52.10 per share, with a total value of $78,150.00. Following the acquisition, the director now owns 14,608 shares in the company, valued at $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunoco Company 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.