PNC Financial Services Group Inc. Sells 7,458 Shares of Sunoco LP (NYSE:SUN)

PNC Financial Services Group Inc. trimmed its holdings in Sunoco LP (NYSE:SUN) by 23.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,068 shares of the oil and gas company’s stock after selling 7,458 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sunoco were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SUN. Moors & Cabot Inc. increased its stake in shares of Sunoco by 10.3% in the 3rd quarter. Moors & Cabot Inc. now owns 13,624 shares of the oil and gas company’s stock worth $731,000 after acquiring an additional 1,277 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in Sunoco during the 3rd quarter valued at about $245,000. Kingsview Wealth Management LLC increased its stake in Sunoco by 18.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 9,213 shares of the oil and gas company’s stock valued at $495,000 after purchasing an additional 1,434 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Sunoco during the 3rd quarter valued at about $268,000. Finally, BNP Paribas Financial Markets increased its stake in Sunoco by 2.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 222,876 shares of the oil and gas company’s stock valued at $11,964,000 after purchasing an additional 4,799 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SUN has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Sunoco from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho raised their price objective on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Sunoco Price Performance

Shares of NYSE:SUN opened at $57.78 on Monday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco LP has a 1-year low of $49.45 and a 1-year high of $62.55. The company has a market capitalization of $8.82 billion, a P/E ratio of 8.75 and a beta of 1.35. The firm’s 50 day simple moving average is $56.36 and its two-hundred day simple moving average is $54.15.

Sunoco (NYSE:SUN) last released 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 net margin of 3.85% and a return on equity of 22.52%. Research analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.8865 dividend. This represents a $3.55 annualized dividend and a yield of 6.14%. The ex-dividend date was Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s payout ratio is currently 53.64%.

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.