Apollon Wealth Management LLC Has $2.03 Million Holdings in Sunoco LP (NYSE:SUN)

Apollon Wealth Management LLC decreased its holdings in Sunoco LP (NYSE:SUN) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,410 shares of the oil and gas company’s stock after selling 4,643 shares during the period. Apollon Wealth Management LLC’s holdings in Sunoco were worth $2,027,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Sunoco by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after buying an additional 455,361 shares during the period. Infrastructure Capital Advisors LLC increased its stake in shares of Sunoco by 3.1% in the third quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock worth $58,372,000 after acquiring an additional 32,239 shares during the last quarter. Recurrent Investment Advisors LLC raised its holdings in shares of Sunoco by 29.3% during the third quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock worth $46,389,000 after acquiring an additional 195,583 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Sunoco by 5,437.3% during the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after acquiring an additional 562,435 shares in the last quarter. Finally, Barclays PLC grew its stake in Sunoco by 908,833.3% in the third quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock valued at $23,419,000 after purchasing an additional 436,240 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SUN has been the subject of a number of recent research reports. Mizuho raised their price target on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Barclays increased their price objective on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada boosted their target price on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.43.

Sunoco Trading Down 2.7 %

Shares of SUN stock opened at $56.31 on Monday. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. The company has a market cap of $8.58 billion, a PE ratio of 12.94 and a beta of 1.36. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $53.91 and its two-hundred day moving average is $53.37.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be paid a $0.8865 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.30%. Sunoco’s dividend payout ratio (DPR) is presently 81.38%.

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.