Sunoco LP $SUN Shares Sold by IFP Advisors Inc

IFP Advisors Inc reduced its stake in shares of Sunoco LP (NYSE:SUN) by 29.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,014 shares of the oil and gas company’s stock after selling 851 shares during the quarter. IFP Advisors Inc’s holdings in Sunoco were worth $108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SUN. EP Wealth Advisors LLC raised its position in Sunoco by 2.2% in the 1st quarter. EP Wealth Advisors LLC now owns 8,590 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 186 shares during the last quarter. Ameritas Advisory Services LLC raised its position in Sunoco by 3.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 193 shares during the last quarter. International Assets Investment Management LLC raised its position in Sunoco by 1.9% in the 1st quarter. International Assets Investment Management LLC now owns 11,252 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 208 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Sunoco by 5.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,262 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 279 shares during the last quarter. Finally, Sigma Planning Corp raised its position in Sunoco by 1.7% in the 1st quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company’s stock valued at $1,063,000 after purchasing an additional 309 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Stock Up 2.0%

Shares of Sunoco stock opened at $54.09 on Monday. The company has a market cap of $8.28 billion, a P/E ratio of 26.64 and a beta of 0.53. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. Sunoco LP has a one year low of $47.98 and a one year high of $59.88. The firm has a fifty day moving average of $50.98 and a two-hundred day moving average of $53.23.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.35). Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The firm had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the company posted $3.85 EPS. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, analysts forecast that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a dividend of $0.9088 per share. This is a boost from Sunoco’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 6.7%. Sunoco’s dividend payout ratio is currently 179.31%.

Analyst Ratings Changes

Several analysts recently commented on SUN shares. Mizuho reduced their price target on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.50.

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.