UBS Group AG Sells 63,124 Shares of Sunoco LP $SUN

UBS Group AG lowered its stake in shares of Sunoco LP (NYSE:SUNFree Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 966,882 shares of the oil and gas company’s stock after selling 63,124 shares during the quarter. UBS Group AG’s holdings in Sunoco were worth $50,674,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SUN. Royal Bank of Canada boosted its holdings in Sunoco by 6.4% in the first quarter. Royal Bank of Canada now owns 159,128 shares of the oil and gas company’s stock valued at $9,239,000 after acquiring an additional 9,592 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Sunoco by 10.9% in the second quarter. Brown Advisory Inc. now owns 12,174 shares of the oil and gas company’s stock valued at $652,000 after acquiring an additional 1,201 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Sunoco by 226.2% in the second quarter. NewEdge Advisors LLC now owns 7,088 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 4,915 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Sunoco by 5.5% in the second quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock valued at $19,611,000 after acquiring an additional 18,990 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Sunoco by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 37,488 shares of the oil and gas company’s stock valued at $1,996,000 after acquiring an additional 2,810 shares during the last quarter. Institutional investors own 24.29% of the company’s stock.

Analysts Set New Price Targets

SUN has been the topic of several recent research reports. Mizuho raised their price target on Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Barclays set a $63.00 price target on Sunoco in a research report on Friday, February 20th. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. raised their price target on Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings lowered Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.29.

Get Our Latest Stock Report on Sunoco

Key Headlines Impacting Sunoco

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Sunoco Stock Performance

Shares of SUN opened at $69.78 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.78 and a current ratio of 1.38. Sunoco LP has a twelve month low of $47.98 and a twelve month high of $70.00. The firm’s 50 day moving average price is $64.97 and its two-hundred day moving average price is $58.56. The firm has a market cap of $14.29 billion, a P/E ratio of 30.74 and a beta of 0.46.

Sunoco (NYSE:SUNGet Free Report) last released its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.71 by $1.14. The firm had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.19 billion. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. On average, analysts forecast that Sunoco LP will post 7.83 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be paid a $0.9899 dividend. This represents a $3.96 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, May 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s dividend payout ratio (DPR) is presently 164.32%.

Sunoco Company Profile

(Free Report)

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.

See Also

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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