Atria Investments Inc Lowers Stock Position in Sunoco LP (NYSE:SUN)

Atria Investments Inc trimmed its position in Sunoco LP (NYSE:SUN) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,048 shares of the oil and gas company’s stock after selling 215 shares during the quarter. Atria Investments Inc’s holdings in Sunoco were worth $325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new position in shares of Sunoco in the second quarter valued at about $32,000. First Horizon Advisors Inc. purchased a new position in Sunoco in the 2nd quarter worth approximately $38,000. Redwood Wealth Management Group LLC bought a new position in Sunoco in the 2nd quarter worth approximately $46,000. HHM Wealth Advisors LLC purchased a new stake in Sunoco during the 2nd quarter valued at approximately $93,000. Finally, Wealth Alliance Advisory Group LLC purchased a new stake in Sunoco during the 2nd quarter valued at approximately $207,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SUN has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lifted their target price on Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.25.

Sunoco Stock Up 0.6 %

Shares of NYSE SUN opened at $54.32 on Friday. 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 LP has a 12-month low of $49.45 and a 12-month high of $64.89. The firm’s 50-day moving average price is $52.79 and its 200-day moving average price is $53.57. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.49 and a beta of 1.31.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. On average, equities research analysts anticipate that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is 80.46%.

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.