Corient Private Wealth LLC Decreases Position in Sunoco LP $SUN

Corient Private Wealth LLC lowered its position in Sunoco LP (NYSE:SUN) by 50.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,467 shares of the oil and gas company’s stock after selling 7,538 shares during the period. Corient Private Wealth LLC’s holdings in Sunoco were worth $391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ancora Advisors LLC purchased a new stake in shares of Sunoco in the 3rd quarter worth about $40,000. Glen Eagle Advisors LLC raised its position in Sunoco by 496.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 710 shares during the last quarter. Cresta Advisors Ltd. purchased a new stake in shares of Sunoco in the fourth quarter valued at about $64,000. Russell Investments Group Ltd. lifted its holdings in shares of Sunoco by 110.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 823 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sunoco in the fourth quarter valued at approximately $95,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Down 0.9%

Shares of NYSE SUN opened at $67.66 on Tuesday. The firm has a market cap of $13.86 billion, a P/E ratio of 17.30 and a beta of 0.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $72.88. The firm’s 50 day moving average price is $67.06 and its 200 day moving average price is $62.71.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same period in the previous year, the firm posted $1.21 EPS. Sunoco’s revenue was up 106.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunoco LP will post 7.92 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This is an increase from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 annualized dividend and a yield of 5.9%. Sunoco’s payout ratio is currently 101.28%.

Wall Street Analysts Forecast Growth

SUN has been the subject of a number of recent research reports. Mizuho raised their price objective on shares of Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Wells Fargo & Company increased their target price on Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Citigroup raised their price target on Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, JPMorgan Chase & Co. upped their price objective on Sunoco from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $74.38.

Sunoco Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.