Journey Strategic Wealth LLC Has $644,000 Holdings in Sunoco LP (NYSE:SUN)

Journey Strategic Wealth LLC decreased its holdings in shares of Sunoco LP (NYSE:SUN) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,511 shares of the oil and gas company’s stock after selling 277 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Sunoco were worth $644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SUN. Independence Bank of Kentucky bought a new stake in shares of Sunoco during the 4th quarter valued at approximately $53,000. Kieckhefer Group LLC acquired a new stake in Sunoco in the fourth quarter valued at approximately $129,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunoco during the third quarter worth $165,000. World Investment Advisors LLC increased its holdings 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 worth $204,000 after buying an additional 200 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Sunoco in the 4th quarter valued at $204,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of SUN opened at $56.39 on Monday. The business has a 50-day moving average of $53.58 and a 200-day moving average of $53.33. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 12.96 and a beta of 1.36. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter last year, the firm posted $2.95 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that Sunoco LP will post 9.63 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a dividend of $0.8865 per share. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SUN. Barclays boosted their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average target price of $62.43.

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.