International Assets Investment Management LLC Lowers Stake in Sunoco LP $SUN

International Assets Investment Management LLC reduced its holdings in shares of Sunoco LP (NYSE:SUN) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,061 shares of the oil and gas company’s stock after selling 191 shares during the period. International Assets Investment Management LLC’s holdings in Sunoco were worth $593,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in Sunoco during the 2nd quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. lifted its position in Sunoco by 110.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 1,069 shares during the period. IFP Advisors Inc lifted its position in Sunoco by 17.1% during the 1st quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock valued at $166,000 after acquiring an additional 419 shares during the period. McIlrath & Eck LLC purchased a new position in Sunoco during the 1st quarter valued at about $199,000. Finally, Retirement Income Solutions Inc bought a new stake in Sunoco during the 1st quarter valued at about $203,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Mizuho reduced their price objective on shares of Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Sunoco in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $66.00 to $67.00 and gave the company an “overweight” rating in a research note 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 company’s stock. According to data from MarketBeat.com, Sunoco has an average rating of “Moderate Buy” and an average price target of $64.50.

Sunoco Stock Performance

Shares of SUN stock opened at $53.42 on Wednesday. The company has a 50 day moving average price of $51.09 and a 200-day moving average price of $53.24. Sunoco LP has a 52 week low of $47.98 and a 52 week high of $59.88. The firm has a market capitalization of $8.17 billion, a PE ratio of 26.31 and a beta of 0.53. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 1.90.

Sunoco (NYSE:SUN) last announced its quarterly earnings results 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 company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the firm earned $3.85 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. As a group, equities research 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 Wednesday, November 19th. Stockholders of record on Thursday, October 30th will be paid a $0.9202 dividend. This is a boost from Sunoco’s previous quarterly dividend of $0.91. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, October 30th. Sunoco’s dividend payout ratio (DPR) is presently 179.31%.

Sunoco 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.