CoreCap Advisors LLC Trims Stock Holdings in Sunoco LP (NYSE:SUN)

CoreCap Advisors LLC trimmed its holdings in Sunoco LP (NYSE:SUN) by 97.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 925 shares of the oil and gas company’s stock after selling 40,901 shares during the quarter. CoreCap Advisors LLC’s holdings in Sunoco were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its stake in Sunoco by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 182 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in Sunoco by 6.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,256 shares of the oil and gas company’s stock valued at $219,000 after buying an additional 247 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in Sunoco by 2.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 9,464 shares of the oil and gas company’s stock valued at $487,000 after buying an additional 251 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in Sunoco by 6.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,940 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 282 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Sunoco by 14.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,022 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 393 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Mizuho boosted their price target on shares of Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. JPMorgan Chase & Co. boosted their price target on shares of Sunoco from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Finally, Barclays reduced their price target on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Sunoco Stock Down 1.5%

SUN opened at $56.60 on Thursday. Sunoco LP has a one year low of $48.00 and a one year high of $59.88. The company has a fifty day moving average price of $56.62 and a 200-day moving average price of $55.19. The firm has a market capitalization of $8.64 billion, a P/E ratio of 8.58 and a beta of 0.67. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66.

Sunoco (NYSE:SUN) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.48). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter last year, the firm posted $2.26 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be given a $0.8976 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Sunoco’s previous quarterly dividend of $0.89. This represents a $3.59 annualized dividend and a yield of 6.34%. Sunoco’s payout ratio is 64.68%.

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.