B. Riley Wealth Advisors Inc. Reduces Stock Position in Sunoco LP (NYSE:SUN)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Sunoco LP (NYSE:SUN) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,379 shares of the oil and gas company’s stock after selling 498 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Sunoco were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in shares of Sunoco by 10.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock valued at $174,081,000 after purchasing an additional 275,875 shares during the last quarter. Blackstone Inc. boosted its stake in Sunoco by 58.0% during the fourth quarter. Blackstone Inc. now owns 2,387,608 shares of the oil and gas company’s stock worth $143,089,000 after buying an additional 876,452 shares during the period. International Assets Investment Management LLC increased its position in Sunoco by 6,075.4% during the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after acquiring an additional 565,015 shares during the last quarter. UBS Group AG raised its stake in shares of Sunoco by 68.3% in the fourth quarter. UBS Group AG now owns 540,949 shares of the oil and gas company’s stock valued at $32,419,000 after acquiring an additional 219,482 shares during the period. Finally, Miller Howard Investments Inc. NY raised its stake in shares of Sunoco by 19.6% in the fourth quarter. Miller Howard Investments Inc. NY now owns 419,414 shares of the oil and gas company’s stock valued at $25,135,000 after acquiring an additional 68,627 shares during the period. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sunoco

In related news, CEO Joseph Kim bought 5,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $50.50 per share, with a total value of $252,500.00. Following the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $505,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David K. Skidmore bought 1,500 shares of the stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $52.10 per share, with a total value of $78,150.00. Following the purchase, the director now directly owns 14,608 shares in the company, valued at approximately $761,076.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joseph Kim purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $50.50 per share, with a total value of $252,500.00. Following the purchase, the chief executive officer now owns 10,000 shares in the company, valued at $505,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,500 shares of company stock worth $479,570.

Wall Street Analyst Weigh In

SUN has been the subject of several analyst reports. Stifel Nicolaus raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Friday, June 7th. Citigroup upgraded Sunoco from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, June 18th. Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and cut their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, June 4th. Barclays began coverage on Sunoco in a research report on Monday, June 10th. They set an “overweight” rating and a $61.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Sunoco in a report on Wednesday, June 5th. They issued an “overweight” rating and a $61.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Sunoco Stock Up 1.3 %

NYSE:SUN opened at $56.13 on Friday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.65 and a quick ratio of 1.07. The firm has a market cap of $5.66 billion, a PE ratio of 12.50 and a beta of 1.29. The company has a 50-day moving average of $53.67 and a 200 day moving average of $57.47. Sunoco LP has a 1-year low of $43.00 and a 1-year high of $64.89.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. As a group, research analysts anticipate that Sunoco LP will post 6.09 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.876 per share. This represents a $3.50 annualized dividend and a yield of 6.24%. This is an increase from Sunoco’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Friday, May 10th. Sunoco’s payout ratio is 77.95%.

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.