Allianz Asset Management GmbH Reduces Position in Sunoco LP $SUN

Allianz Asset Management GmbH decreased its position in Sunoco LP (NYSE:SUN) by 52.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,300 shares of the oil and gas company’s stock after selling 158,200 shares during the period. Allianz Asset Management GmbH owned 0.10% of Sunoco worth $7,840,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. EP Wealth Advisors LLC boosted its holdings in shares of Sunoco by 2.2% in the first quarter. EP Wealth Advisors LLC now owns 8,590 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 186 shares during the period. Ameritas Advisory Services LLC boosted its holdings in shares of Sunoco by 3.9% in the second quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 193 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Sunoco by 1.9% in the first quarter. International Assets Investment Management LLC now owns 11,252 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 208 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sunoco by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,262 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 279 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of Sunoco by 1.7% in the first quarter. Sigma Planning Corp now owns 18,301 shares of the oil and gas company’s stock valued at $1,063,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho lowered their price target on Sunoco from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Friday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Sunoco from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 22nd. Zacks Research raised shares of Sunoco from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sunoco in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Sunoco has a consensus 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 business’s fifty day simple moving average is $51.09 and its 200-day simple moving average is $53.24. The company has a market cap of $8.17 billion, a PE ratio of 26.31 and a beta of 0.53. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. Sunoco LP has a 12-month low of $47.98 and a 12-month high of $59.88.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.35). The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. Analysts expect that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Thursday, October 30th will be given a dividend of $0.9202 per share. The ex-dividend date of this dividend is Thursday, October 30th. 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%. Sunoco’s payout ratio is currently 179.31%.

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.