Sunoco LP (NYSE:SUN) Shares Sold by Barnett & Company Inc.

Barnett & Company Inc. decreased its stake in shares of Sunoco LP (NYSE:SUN) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,033 shares of the oil and gas company’s stock after selling 1,850 shares during the quarter. Sunoco comprises 1.8% of Barnett & Company Inc.’s holdings, making the stock its 18th biggest position. Barnett & Company Inc.’s holdings in Sunoco were worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sunoco in the 1st quarter worth $733,000. Texas Yale Capital Corp. increased its holdings in Sunoco by 3.8% in the 1st quarter. Texas Yale Capital Corp. now owns 24,300 shares of the oil and gas company’s stock worth $1,465,000 after buying an additional 900 shares during the period. Kingsview Wealth Management LLC purchased a new position in Sunoco during the 1st quarter worth approximately $201,000. Advisors Asset Management Inc. acquired a new stake in Sunoco during the 1st quarter valued at approximately $370,000. Finally, Keeley Teton Advisors LLC purchased a new stake in shares of Sunoco in the 1st quarter valued at $301,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Price Performance

Shares of SUN traded up $0.30 during trading hours on Tuesday, hitting $51.79. 56,613 shares of the stock were exchanged, compared to its average volume of 519,364. The stock’s 50-day moving average price is $52.75 and its two-hundred day moving average price is $53.73. Sunoco LP has a 12-month low of $49.45 and a 12-month high of $64.89. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.72 and a current ratio of 1.26. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 11.85 and a beta of 1.31.

Sunoco (NYSE:SUN) last released 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 business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 24.47% and a net margin of 2.72%. Sunoco’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. Research analysts expect that Sunoco LP will post 7.16 earnings per share for the current year.

Sunoco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is 80.46%.

Wall Street Analysts Forecast Growth

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

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.