Sunoco LP (NYSE:SUN) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. decreased its stake in shares of Sunoco LP (NYSE:SUN) by 27.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 530 shares of the oil and gas company’s stock after selling 203 shares during the period. Harbour Investments Inc.’s holdings in Sunoco were worth $27,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SUN. Independence Bank of Kentucky bought a new position in shares of Sunoco in the fourth quarter valued at approximately $53,000. Steward Partners Investment Advisory LLC boosted its stake in Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 182 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 788 shares during the period. Allworth Financial LP increased its position in shares of Sunoco by 90.6% during the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 819 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Sunoco by 112.5% in the fourth quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 1,295 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SUN has been the topic of a number of research analyst reports. Mizuho lifted their target price on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Barclays boosted their target price on shares of Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, Royal Bank of Canada raised their target price 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunoco presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Sunoco Stock Up 0.6 %

SUN stock opened at $57.09 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The firm has a market capitalization of $8.71 billion, a P/E ratio of 8.65 and a beta of 1.35. Sunoco LP has a 52-week low of $49.45 and a 52-week high of $62.55. The company’s 50 day simple moving average is $57.08 and its 200-day simple moving average is $54.33.

Sunoco (NYSE:SUN) last announced its earnings results 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%. As a group, equities research analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.8865 per share. The ex-dividend date of this dividend was 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 6.21%. Sunoco’s dividend payout ratio (DPR) is presently 53.64%.

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.