Sunoco LP $SUN Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its position in Sunoco LP (NYSE:SUN) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,861,688 shares of the oil and gas company’s stock after selling 534,026 shares during the period. Goldman Sachs Group Inc. owned approximately 2.87% of Sunoco worth $307,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp bought a new position in shares of Sunoco during the third quarter valued at $1,161,000. Barclays PLC lifted its holdings in shares of Sunoco by 33.7% during the third quarter. Barclays PLC now owns 593,970 shares of the oil and gas company’s stock valued at $29,704,000 after purchasing an additional 149,732 shares in the last quarter. Cooperman Leon G lifted its holdings in shares of Sunoco by 10.2% during the third quarter. Cooperman Leon G now owns 1,620,000 shares of the oil and gas company’s stock valued at $81,016,000 after purchasing an additional 150,000 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Sunoco by 2.6% during the third quarter. Alps Advisors Inc. now owns 24,089,484 shares of the oil and gas company’s stock valued at $1,204,715,000 after purchasing an additional 599,655 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Sunoco during the third quarter valued at $7,104,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Stock Down 1.4%

NYSE SUN opened at $66.36 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. The company has a market capitalization of $13.59 billion, a P/E ratio of 16.97 and a beta of 0.43. Sunoco LP has a one year low of $47.98 and a one year high of $72.88. The stock has a 50 day moving average price of $66.96 and a 200-day moving average price of $61.05.

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

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $0.9899 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date was Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 6.0%. Sunoco’s dividend payout ratio (DPR) is presently 101.28%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SUN shares. Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research upgraded Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price objective on shares of Sunoco in a research report on Wednesday, May 6th. Mizuho raised their price objective on Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Stifel Nicolaus raised their price objective on Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $74.13.

Sunoco Company 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.