BNP Paribas Financial Markets Sells 50,320 Shares of Sunoco LP (NYSE:SUN)

BNP Paribas Financial Markets lowered its stake in shares of Sunoco LP (NYSE:SUN) by 52.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,328 shares of the oil and gas company’s stock after selling 50,320 shares during the quarter. BNP Paribas Financial Markets’ holdings in Sunoco were worth $2,717,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Sunoco by 6,075.4% during the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock worth $34,419,000 after buying an additional 565,015 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Sunoco by 19.6% during the fourth quarter. Miller Howard Investments Inc. NY now owns 419,414 shares of the oil and gas company’s stock worth $25,135,000 after buying an additional 68,627 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Sunoco during the fourth quarter worth approximately $15,396,000. Fractal Investments LLC raised its stake in shares of Sunoco by 1,110.0% in the fourth quarter. Fractal Investments LLC now owns 242,000 shares of the oil and gas company’s stock valued at $14,503,000 after purchasing an additional 222,000 shares in the last quarter. Finally, TCG Advisory Services LLC acquired a new position in shares of Sunoco in the fourth quarter valued at $14,380,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of NYSE:SUN opened at $49.87 on Friday. The business’s fifty day moving average price is $56.55 and its two-hundred day moving average price is $57.62. Sunoco LP has a fifty-two week low of $41.95 and a fifty-two week high of $64.89. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 11.11 and a beta of 1.29. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a dividend yield of 7.03%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio is presently 77.95%.

Analyst Ratings Changes

A number of brokerages recently commented on SUN. Wells Fargo & Company upped their target price on Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 20th. Citigroup lowered Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research note on Tuesday, February 27th. StockNews.com upgraded Sunoco from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Stifel Nicolaus lowered Sunoco from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Sunoco presently has a consensus rating of “Hold” and a consensus target price of $62.71.

Insider Transactions at Sunoco

In other Sunoco news, Director David K. Skidmore bought 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were bought at an average price of $52.10 per share, for a total transaction of $78,150.00. Following the completion of the acquisition, the director now owns 14,608 shares of the company’s stock, valued at $761,076.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

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.