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 its most recent disclosure with the Securities and Exchange Commission. The firm owned 966,882 shares of the oil and gas company’s stock after selling 63,124 shares during the quarter. UBS Group AG owned about 0.47% of Sunoco worth $50,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Compass Wealth Management LLC bought a new position in Sunoco during the third quarter worth $644,000. Lee Financial Co increased its position in Sunoco by 573.1% during the third quarter. Lee Financial Co now owns 25,705 shares of the oil and gas company’s stock worth $1,286,000 after acquiring an additional 21,886 shares during the period. Truist Financial Corp bought a new position in Sunoco during the third quarter worth $1,161,000. Barclays PLC increased its position in Sunoco by 33.7% during the third quarter. Barclays PLC now owns 593,970 shares of the oil and gas company’s stock worth $29,704,000 after acquiring an additional 149,732 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in Sunoco during the third quarter worth $7,104,000. Institutional investors own 24.29% of the company’s stock.

Trending Headlines about Sunoco

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Sunoco Price Performance

Shares of Sunoco stock opened at $69.78 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 30.74 and a beta of 0.46. Sunoco LP has a 1-year low of $47.98 and a 1-year 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.

Sunoco (NYSE:SUNGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping 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 net margin of 2.01% and a return on equity of 10.76%. The company’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. On average, equities analysts predict that Sunoco LP will post 7.83 earnings per share for the current fiscal year.

Sunoco Increases Dividend

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

Analyst Upgrades and Downgrades

SUN has been the topic of a number of research reports. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Mizuho boosted their price objective on Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Weiss Ratings cut Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Stifel Nicolaus boosted their price objective on Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.29.

Read Our Latest Analysis on Sunoco

About Sunoco

(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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