Ethos Financial Group LLC Sells 3,635 Shares of Sunoco LP $SUN

Ethos Financial Group LLC lowered its stake in shares of Sunoco LP (NYSE:SUN) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,142 shares of the oil and gas company’s stock after selling 3,635 shares during the period. Ethos Financial Group LLC’s holdings in Sunoco were worth $222,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. World Investment Advisors bought a new position in Sunoco during the first quarter valued at $279,000. Bank of New York Mellon Corp bought a new stake in shares of Sunoco in the first quarter valued at $248,000. Concurrent Investment Advisors LLC purchased a new position in shares of Sunoco during the 1st quarter valued at $239,000. Envestnet Asset Management Inc. grew its stake in shares of Sunoco by 6.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 32,603 shares of the oil and gas company’s stock worth $1,893,000 after acquiring an additional 1,845 shares during the period. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in Sunoco in the 1st quarter worth about $538,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SUN has been the topic of a number of research reports. Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Zacks Research downgraded shares of Sunoco from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Sunoco in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Sunoco in a report on Wednesday. Finally, 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. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.50.

Sunoco Trading Down 2.8%

Shares of SUN opened at $50.78 on Friday. Sunoco LP has a twelve month low of $47.98 and a twelve month high of $59.88. The stock has a market cap of $7.77 billion, a PE ratio of 25.02 and a beta of 0.55. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 1.90. The business’s 50-day moving average price is $51.28 and its 200-day moving average price is $53.13.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.90). Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The firm had revenue of $31.00 million for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the prior year, the firm posted ($0.26) EPS. Sunoco’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Thursday, October 30th will be given a $0.9202 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 7.2%. This is a boost from Sunoco’s previous quarterly dividend of $0.91. The ex-dividend date is Thursday, October 30th. Sunoco’s dividend payout ratio (DPR) is 181.28%.

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.