Sunoco LP (NYSE:SUN) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC trimmed its position in Sunoco LP (NYSE:SUN) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,840 shares of the oil and gas company’s stock after selling 204 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Sunoco were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 455,361 shares in the last quarter. Infrastructure Capital Advisors LLC raised its holdings in shares of Sunoco by 3.1% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 1,087,407 shares of the oil and gas company’s stock valued at $58,372,000 after purchasing an additional 32,239 shares in the last quarter. Recurrent Investment Advisors LLC raised its holdings in shares of Sunoco by 29.3% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 864,176 shares of the oil and gas company’s stock valued at $46,389,000 after purchasing an additional 195,583 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of Sunoco by 0.9% in the 4th quarter. Miller Howard Investments Inc. NY now owns 595,057 shares of the oil and gas company’s stock valued at $30,610,000 after purchasing an additional 5,296 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Sunoco by 5,437.3% in the 3rd quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock valued at $30,747,000 after purchasing an additional 562,435 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Sunoco Price Performance

Shares of NYSE:SUN opened at $57.40 on Friday. The company’s fifty day moving average price is $54.00 and its 200 day moving average price is $53.45. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. 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 firm has a market capitalization of $8.75 billion, a P/E ratio of 13.19 and a beta of 1.36.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. As a group, sell-side analysts predict that Sunoco LP will post 9.63 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given 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 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend is Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is presently 53.64%.

Wall Street Analyst Weigh In

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

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.