Atria Investments Inc Trims Stock Holdings in Sunoco LP (NYSE:SUN)

Atria Investments Inc trimmed its holdings in shares of Sunoco LP (NYSE:SUN) by 3.4% in the 3rd quarter, Holdings Channel reports. The firm owned 6,048 shares of the oil and gas company’s stock after selling 215 shares during the quarter. Atria Investments Inc’s holdings in Sunoco were worth $325,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its holdings in Sunoco by 26,345.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,351,368 shares of the oil and gas company’s stock worth $76,406,000 after purchasing an additional 1,346,258 shares during the period. Clearbridge Investments LLC increased its stake in shares of Sunoco by 176.6% during the second quarter. Clearbridge Investments LLC now owns 700,229 shares of the oil and gas company’s stock valued at $39,591,000 after buying an additional 447,072 shares during the period. Miller Howard Investments Inc. NY raised its holdings in shares of Sunoco by 33.4% in the second quarter. Miller Howard Investments Inc. NY now owns 583,323 shares of the oil and gas company’s stock valued at $32,981,000 after acquiring an additional 146,152 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Sunoco by 5,437.3% in the third quarter. International Assets Investment Management LLC now owns 572,779 shares of the oil and gas company’s stock worth $30,747,000 after acquiring an additional 562,435 shares during the period. Finally, Adams Asset Advisors LLC grew its holdings in Sunoco by 82.3% during the 2nd quarter. Adams Asset Advisors LLC now owns 571,538 shares of the oil and gas company’s stock worth $32,315,000 after acquiring an additional 258,103 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.25.

Sunoco Price Performance

Shares of SUN stock opened at $54.32 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. Sunoco LP has a fifty-two week low of $49.45 and a fifty-two week high of $64.89. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.49 and a beta of 1.31. The stock’s 50-day simple moving average is $52.79 and its 200-day simple moving average is $53.57.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The business’s revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the business earned $2.95 EPS. As a group, equities analysts forecast that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date was Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is 80.46%.

About Sunoco

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.