CoreCap Advisors LLC Has $48,000 Stake in Sunoco LP (NYSE:SUN)

CoreCap Advisors LLC lowered its stake in shares of Sunoco LP (NYSE:SUN) by 97.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 925 shares of the oil and gas company’s stock after selling 40,901 shares during the period. CoreCap Advisors LLC’s holdings in Sunoco were worth $48,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new position in Sunoco during the 4th quarter valued at about $256,000. Virtu Financial LLC bought a new position in shares of Sunoco during the 4th quarter worth approximately $239,000. Icon Advisers Inc. Co. bought a new position in shares of Sunoco during the 4th quarter worth approximately $1,852,000. Van ECK Associates Corp lifted its position in shares of Sunoco by 41.1% during the 4th quarter. Van ECK Associates Corp now owns 30,131 shares of the oil and gas company’s stock worth $1,550,000 after buying an additional 8,782 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Sunoco during the 4th quarter worth approximately $17,739,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SUN shares. Mizuho lifted their target price on shares of Sunoco from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, April 3rd. Barclays dropped their target price on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sunoco from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $64.33.

Sunoco Trading Down 1.5%

NYSE:SUN opened at $56.60 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $8.64 billion, a PE ratio of 8.58 and a beta of 0.67. The firm’s 50 day moving average is $56.62 and its 200 day moving average is $55.19. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.48). The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.58 billion. Sunoco had a return on equity of 22.52% and a net margin of 3.85%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.26 EPS. Sell-side analysts expect 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 will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a $0.8976 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date is Friday, May 9th. This is a boost from Sunoco’s previous quarterly dividend of $0.89. 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.