Sunoco LP (NYSE:SUN) Stake Decreased by Spirit of America Management Corp NY

Spirit of America Management Corp NY decreased its position in shares of Sunoco LP (NYSE:SUN) by 51.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,500 shares of the oil and gas company’s stock after selling 14,055 shares during the period. Spirit of America Management Corp NY’s holdings in Sunoco were worth $694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in Sunoco during the fourth quarter worth approximately $53,000. Kieckhefer Group LLC bought a new stake in Sunoco during the fourth quarter worth approximately $129,000. Wilmington Savings Fund Society FSB bought a new stake in Sunoco during the third quarter worth approximately $165,000. World Investment Advisors LLC raised its holdings in Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 200 shares in the last quarter. Finally, Tyche Wealth Partners LLC raised its holdings in Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Trading Up 2.7 %

Sunoco stock opened at $59.24 on Wednesday. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 13.62 and a beta of 1.36. The firm’s 50 day moving average price is $53.75 and its two-hundred day moving average price is $53.34.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, research 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 dividend of $0.8865 per share. This represents a $3.55 annualized dividend and a yield of 5.99%. This is a boost from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, February 7th. Sunoco’s payout ratio is presently 80.46%.

Analyst Ratings Changes

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