PSI Advisors LLC Reduces Holdings in Sunoco LP (NYSE:SUN)

PSI Advisors LLC cut its position in Sunoco LP (NYSE:SUN) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,201 shares of the oil and gas company’s stock after selling 365 shares during the quarter. PSI Advisors LLC’s holdings in Sunoco were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SUN. BOKF NA acquired a new position in Sunoco in the 2nd quarter worth $508,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Sunoco by 34.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,617 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 1,176 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Sunoco in the second quarter valued at about $46,000. Moors & Cabot Inc. acquired a new stake in Sunoco during the 2nd quarter valued at approximately $698,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Sunoco by 9.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,185 shares of the oil and gas company’s stock worth $689,000 after purchasing an additional 1,028 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SUN. Royal Bank of Canada raised their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays raised their price objective on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.75.

Sunoco Stock Performance

Sunoco stock opened at $51.73 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. The company has a fifty day moving average price of $52.92 and a two-hundred day moving average price of $53.51. The company has a market cap of $7.88 billion, a PE ratio of 11.89 and a beta of 1.36.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm posted $2.95 earnings per share. Research analysts expect that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.77%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is presently 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.