Sunoco LP (NYSE:SUN) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP lowered its position in Sunoco LP (NYSE:SUN) by 23.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,000 shares of the oil and gas company’s stock after selling 3,000 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Sunoco were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in Sunoco by 26,345.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company’s stock valued at $76,406,000 after acquiring an additional 1,346,258 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Sunoco by 176.6% in the second quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company’s stock valued at $39,591,000 after acquiring an additional 447,072 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in Sunoco by 33.4% in the second quarter. Miller Howard Investments Inc. NY now owns 583,323 shares of the oil and gas company’s stock valued at $32,981,000 after purchasing an additional 146,152 shares during the period. International Assets Investment Management LLC raised its position in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after purchasing an additional 562,435 shares during the period. Finally, Adams Asset Advisors LLC raised its position in Sunoco by 82.3% in the second quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company’s stock valued at $32,315,000 after purchasing an additional 258,103 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

SUN has been the topic of several research reports. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.25.

Sunoco Trading Down 1.9 %

NYSE:SUN opened at $51.56 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26. Sunoco LP has a one year low of $49.45 and a one year high of $64.89. The business’s 50-day simple moving average is $52.75 and its 200 day simple moving average is $53.73. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 11.85 and a beta of 1.31.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 24.47%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the previous year, the company earned $2.95 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s payout ratio is currently 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.