Exchange Traded Concepts LLC Trims Stake in Sunoco LP (NYSE:SUN)

Exchange Traded Concepts LLC lessened its position in Sunoco LP (NYSE:SUN) by 7.1% in the fourth quarter, HoldingsChannel reports. The firm owned 119,054 shares of the oil and gas company’s stock after selling 9,117 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Sunoco were worth $6,124,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Sunoco by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock valued at $570,000 after buying an additional 190 shares in the last quarter. Stifel Financial Corp boosted its stake in Sunoco by 0.8% during the third quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock worth $1,355,000 after acquiring an additional 194 shares in the last quarter. Tyche Wealth Partners LLC grew its holdings in Sunoco by 5.4% in the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares during the period. World Investment Advisors LLC increased its stake in shares of Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Sunoco by 2.6% during the third quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after purchasing an additional 245 shares during the last quarter. 24.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SUN has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays raised their price target on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunoco has an average rating of “Moderate Buy” and a consensus target price of $62.43.

Sunoco Stock Up 0.5 %

SUN stock opened at $56.02 on Friday. 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 1-year low of $49.45 and a 1-year high of $64.89. The stock has a market capitalization of $8.54 billion, a P/E ratio of 12.88 and a beta of 1.36. The business has a fifty day moving average price of $53.34 and a 200-day moving average price of $53.42.

Sunoco (NYSE:SUN) last posted its earnings results 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 19.77%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the prior year, the company posted $2.95 EPS. Sunoco’s revenue was down 9.0% on a year-over-year basis. Equities analysts forecast that Sunoco LP will post 6.87 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. The ex-dividend date was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a yield of 6.25%. Sunoco’s dividend payout ratio is presently 80.46%.

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.