Apollon Wealth Management LLC Sells 11,713 Shares of Sunoco LP $SUN

Key Points

• Apollon Wealth Management LLC decreased its stake in Sunoco LP (NYSE:SUN) by 30.0% in the second quarter, selling 11,713 shares, leaving it with a value of approximately $1.47 million in holdings.
• Sunoco recently reported a missed earnings target with $0.33 earnings per share compared to analyst expectations of $1.68, and its quarterly revenue decreased by 12.7% year-over-year.
• Sunoco has increased its quarterly dividend to $0.9088 per share, reflecting a yield of 7.2% and a payout ratio of 179.31%.

Apollon Wealth Management LLC reduced its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 30.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,349 shares of the oil and gas company's stock after selling 11,713 shares during the quarter. Apollon Wealth Management LLC's holdings in Sunoco were worth $1,466,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. bought a new stake in Sunoco during the second quarter worth approximately $8,939,000. Ameritas Advisory Services LLC increased its stake in Sunoco by 3.9% during the second quarter. Ameritas Advisory Services LLC now owns 5,187 shares of the oil and gas company's stock worth $278,000 after acquiring an additional 193 shares during the last quarter. Sovereign Investment Advisors LLC bought a new stake in Sunoco during the second quarter worth approximately $2,332,000. Janney Montgomery Scott LLC increased its stake in Sunoco by 18.3% during the second quarter. Janney Montgomery Scott LLC now owns 17,086 shares of the oil and gas company's stock worth $916,000 after acquiring an additional 2,639 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in Sunoco by 7.9% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 9,996 shares of the oil and gas company's stock worth $536,000 after acquiring an additional 729 shares during the last quarter. 24.29% of the stock is owned by institutional investors.

Sunoco Stock Up 2.0%

Shares of NYSE:SUN opened at $50.40 on Tuesday. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $59.88. The stock has a market cap of $7.71 billion, a P/E ratio of 24.83 and a beta of 0.53. The business's 50 day moving average is $51.00 and its 200 day moving average is $53.39. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 1.90.

Sunoco (NYSE:SUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($1.35). The company had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The firm's quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.85 EPS. Sell-side analysts predict that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.9088 per share. This is an increase from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, August 8th. Sunoco's dividend payout ratio (DPR) is currently 179.31%.

Analyst Ratings Changes

SUN has been the topic of several analyst reports. Zacks Research raised Sunoco from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Mizuho cut their target price on Sunoco from $67.00 to $66.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sunoco in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Sunoco currently has an average rating of "Moderate Buy" and a consensus target price of $64.50.

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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