Barnett & Company Inc. Reduces Stock Holdings in Sunoco LP (NYSE:SUN)

Barnett & Company Inc. lowered its holdings in Sunoco LP (NYSE:SUN) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,133 shares of the oil and gas company’s stock after selling 900 shares during the quarter. Sunoco accounts for 1.7% of Barnett & Company Inc.’s holdings, making the stock its 19th biggest position. Barnett & Company Inc.’s holdings in Sunoco were worth $2,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in shares of Sunoco in the fourth quarter valued at approximately $53,000. Steward Partners Investment Advisory LLC lifted its holdings in Sunoco by 17.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 788 shares during the period. Allworth Financial LP increased its stake in shares of Sunoco by 90.6% during the fourth quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 819 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Sunoco by 112.5% during the 4th quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 1,295 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Down 1.6 %

SUN opened at $56.94 on Monday. The stock has a market capitalization of $8.69 billion, a P/E ratio of 8.63 and a beta of 1.35. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. Sunoco LP has a one year low of $49.45 and a one year high of $62.55. The business’s 50-day simple moving average is $56.98 and its 200-day simple moving average is $54.30.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.8865 per share. The ex-dividend date was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a yield of 6.23%. This is a boost from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio is currently 53.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price 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 boosted their price objective on Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Finally, Royal Bank of Canada upped their price objective on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.67.

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.