Sunoco LP $SUN Shares Sold by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC decreased its holdings in shares of Sunoco LP (NYSE:SUN) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,458 shares of the oil and gas company’s stock after selling 1,831 shares during the period. Journey Strategic Wealth LLC’s holdings in Sunoco were worth $560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Harbor Asset Planning Inc. acquired a new position in shares of Sunoco in the 2nd quarter valued at about $41,000. Bessemer Group Inc. lifted its holdings in Sunoco by 41.7% in the second quarter. Bessemer Group Inc. now owns 1,360 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 400 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Sunoco by 95.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,379 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 675 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Sunoco by 110.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 1,069 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of Sunoco by 17.1% during the first quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company’s stock valued at $166,000 after purchasing an additional 419 shares during the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Price Performance

Shares of SUN opened at $55.47 on Friday. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.32 and a beta of 0.55. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. Sunoco LP has a one year low of $47.98 and a one year high of $59.88. The stock’s fifty day moving average is $51.63 and its 200-day moving average is $52.76.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.90). The company had revenue of $31.00 million during the quarter, compared to analyst estimates of $5.59 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 up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.26) EPS. Equities analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Thursday, October 30th were issued a $0.9202 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.6%. This is a boost from Sunoco’s previous quarterly dividend of $0.91. The ex-dividend date was Thursday, October 30th. Sunoco’s payout ratio is 125.60%.

Analyst Ratings Changes

SUN has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Sunoco in a report on Monday, November 17th. Wells Fargo & Company set a $65.00 target price on Sunoco and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Barclays restated an “overweight” rating and set a $57.00 price target on shares of Sunoco in a research report on Monday, November 17th. Raymond James Financial reiterated an “outperform” rating and issued a $70.00 price objective on shares of Sunoco in a research report on Wednesday, November 5th. Finally, Zacks Research lowered shares of Sunoco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.83.

About Sunoco

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.