EP Wealth Advisors LLC Reduces Stock Position in Sunoco LP (NYSE:SUN)

EP Wealth Advisors LLC cut its stake in Sunoco LP (NYSE:SUN - Free Report) by 39.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,404 shares of the oil and gas company's stock after selling 5,584 shares during the quarter. EP Wealth Advisors LLC's holdings in Sunoco were worth $432,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Sunoco in the 4th quarter worth approximately $31,000. Independence Bank of Kentucky bought a new stake in shares of Sunoco during the 4th quarter valued at about $53,000. Steward Partners Investment Advisory LLC increased its position in shares of Sunoco by 17.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock worth $64,000 after purchasing an additional 182 shares during the last quarter. Global Retirement Partners LLC raised its stake in Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company's stock valued at $84,000 after purchasing an additional 788 shares in the last quarter. Finally, Transce3nd LLC purchased a new position in Sunoco in the 4th quarter worth approximately $90,000. Institutional investors own 24.29% of the company's stock.

Sunoco Stock Up 0.7%

Shares of NYSE:SUN opened at $55.71 on Tuesday. The stock has a market capitalization of $8.50 billion, a P/E ratio of 8.44 and a beta of 0.67. The stock's 50-day moving average price is $56.61 and its 200-day moving average price is $55.16. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. Sunoco LP has a 12-month low of $48.00 and a 12-month high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.48). The company had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.58 billion. Sunoco had a net margin of 3.85% and a return on equity of 22.52%. The company's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.26 earnings per share. On average, equities analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be issued a $0.8976 dividend. This is a boost from Sunoco's previous quarterly dividend of $0.89. The ex-dividend date is Friday, May 9th. This represents a $3.59 annualized dividend and a dividend yield of 6.44%. Sunoco's dividend payout ratio (DPR) is currently 64.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. lifted their price target on Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Mizuho increased their price objective on Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Sunoco currently has a consensus rating of "Moderate Buy" and an average price target of $64.33.

Sunoco Company Profile

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.

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