Sunoco LP (NYSE:SUN) Position Lessened by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in Sunoco LP (NYSE:SUN) by 98.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,044 shares of the oil and gas company’s stock after selling 561,735 shares during the quarter. International Assets Investment Management LLC’s holdings in Sunoco were worth $572,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new position in Sunoco during the second quarter valued at about $46,000. Wilmington Savings Fund Society FSB bought a new position in Sunoco in the 3rd quarter worth approximately $165,000. World Investment Advisors LLC increased its position in Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 200 shares during the period. Tyche Wealth Partners LLC raised its position in shares of Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after buying an additional 200 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Sunoco in the 3rd quarter valued at approximately $221,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Down 1.9 %

Shares of NYSE SUN opened at $51.45 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 11.83 and a beta of 1.36. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89. The firm’s 50-day simple moving average is $52.91 and its 200 day simple moving average is $53.59.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the company earned $2.95 earnings per share. Sunoco’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts expect that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.81%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is presently 80.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.75.

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.