Sunoco LP (NYSE:SUN) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lowered its position in shares of Sunoco LP (NYSE:SUN) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,972 shares of the oil and gas company’s stock after selling 992 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sunoco were worth $462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock worth $117,644,000 after acquiring an additional 455,361 shares during the last quarter. Infrastructure Capital Advisors LLC increased its position in shares of Sunoco by 3.1% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock worth $58,372,000 after purchasing an additional 32,239 shares during the last quarter. Recurrent Investment Advisors LLC raised its holdings in Sunoco by 29.3% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock valued at $46,389,000 after buying an additional 195,583 shares during the period. International Assets Investment Management LLC lifted its position in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after buying an additional 562,435 shares during the last quarter. Finally, Barclays PLC boosted its stake in Sunoco by 908,833.3% during the third quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock worth $23,419,000 after buying an additional 436,240 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Up 1.3 %

Shares of NYSE SUN opened at $57.38 on Wednesday. The stock has a market cap of $8.74 billion, a P/E ratio of 13.19 and a beta of 1.36. The business’s fifty day simple moving average is $53.92 and its 200-day simple moving average is $53.40. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. As a group, equities analysts predict that Sunoco LP will post 9.63 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.8865 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.18%. Sunoco’s dividend payout ratio is currently 80.46%.

Analyst Ratings Changes

Several brokerages have recently commented on SUN. Mizuho upped their price objective on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Barclays upped their price target on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Sunoco currently has a consensus rating of “Moderate Buy” and an average price target of $63.43.

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.