International Assets Investment Management LLC Has $572,000 Position in Sunoco LP (NYSE:SUN)

International Assets Investment Management LLC lessened its holdings in shares of Sunoco LP (NYSE:SUNFree Report) by 98.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,044 shares of the oil and gas company’s stock after selling 561,735 shares during the period. International Assets Investment Management LLC’s holdings in Sunoco were worth $572,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SUN. Redwood Wealth Management Group LLC bought a new position in shares of Sunoco in the 2nd quarter worth $46,000. Wilmington Savings Fund Society FSB bought a new position in Sunoco during the third quarter worth about $165,000. World Investment Advisors LLC grew its position in shares of Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after buying an additional 200 shares during the period. Tyche Wealth Partners LLC increased its stake in shares of Sunoco by 5.4% in the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock valued at $210,000 after acquiring an additional 200 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Sunoco in the 3rd quarter valued at approximately $221,000. Institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of NYSE SUN opened at $51.45 on Friday. The company has a fifty day moving average price of $52.91 and a 200 day moving average price of $53.59. The firm has a market cap of $7.84 billion, a PE ratio of 11.83 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Sunoco LP has a 1-year low of $49.45 and a 1-year high of $64.89.

Sunoco (NYSE:SUNGet Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts predict that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.81%. Sunoco’s dividend payout ratio is currently 80.46%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SUN. Barclays boosted their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Royal Bank of Canada boosted their price target on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.75.

Check Out Our Latest Report on Sunoco

About Sunoco

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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