Sunoco LP (NYSE:SUN) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lowered its stake in shares of Sunoco LP (NYSE:SUN) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,288 shares of the oil and gas company’s stock after selling 545 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Sunoco were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SUN. CNB Bank acquired a new stake in Sunoco during the first quarter worth approximately $30,000. Longfellow Investment Management Co. LLC acquired a new stake in Sunoco during the second quarter worth approximately $32,000. First Horizon Advisors Inc. acquired a new stake in Sunoco during the second quarter worth approximately $38,000. Redwood Wealth Management Group LLC acquired a new stake in Sunoco during the second quarter worth approximately $46,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Sunoco during the second quarter worth approximately $93,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada lifted their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays cut their target price on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

Sunoco Price Performance

Shares of NYSE SUN opened at $51.66 on Wednesday. The firm has a market capitalization of $7.87 billion, a P/E ratio of 6.83 and a beta of 1.30. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26. Sunoco LP has a one year low of $49.00 and a one year high of $64.89. The company’s fifty day moving average is $53.08 and its two-hundred day moving average is $53.89.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $2.62. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. Analysts forecast that Sunoco LP will post 8.07 EPS for the current fiscal year.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is presently 46.30%.

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.