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

Sigma Planning Corp trimmed its position in Sunoco LP (NYSE:SUN) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,951 shares of the oil and gas company’s stock after selling 237 shares during the period. Sigma Planning Corp’s holdings in Sunoco were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SUN. Longfellow Investment Management Co. LLC purchased a new stake in Sunoco during the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. acquired a new stake in shares of Sunoco during the second quarter worth about $38,000. Redwood Wealth Management Group LLC purchased a new stake in Sunoco in the second quarter valued at approximately $46,000. HHM Wealth Advisors LLC acquired a new position in Sunoco in the 2nd quarter worth approximately $93,000. Finally, Kingsview Wealth Management LLC purchased a new position in Sunoco during the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

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

Sunoco Trading Up 0.2 %

SUN stock opened at $51.57 on Wednesday. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $64.89. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The firm has a market cap of $7.86 billion, a P/E ratio of 11.86 and a beta of 1.31. The company’s 50-day simple moving average is $52.72 and its 200-day simple moving average is $53.70.

Sunoco (NYSE:SUN) last issued its quarterly earnings results 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 business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 24.47% and a net margin of 2.72%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.95 EPS. As a group, equities analysts forecast that Sunoco LP will post 7.16 EPS for the current fiscal year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.8756 per share. The ex-dividend date is Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.79%. Sunoco’s dividend payout ratio is currently 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.