Barnett & Company Inc. Has $2.46 Million Stock Holdings in Sunoco LP (NYSE:SUN)

Key Points

• Barnett & Company Inc. reduced its stake in Sunoco LP by 15.6% to approximately $2.46 million, making it the 13th largest holding in their portfolio.
• Sunoco reported $0.33 earnings per share for the last quarter, missing the consensus estimate significantly, while revenue also fell by 12.7% year-over-year.
• The company recently announced an increase in its quarterly dividend to $0.9088 per share, marking a dividend yield of 7.0%, although the payout ratio is notably high at 176.85%.

Barnett & Company Inc. lowered its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 15.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,333 shares of the oil and gas company's stock after selling 7,800 shares during the quarter. Sunoco makes up about 2.1% of Barnett & Company Inc.'s investment portfolio, making the stock its 13th largest position. Barnett & Company Inc.'s holdings in Sunoco were worth $2,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. grew its stake in Sunoco by 12.3% in the first quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company's stock valued at $1,343,080,000 after acquiring an additional 2,529,170 shares during the period. Invesco Ltd. grew its stake in Sunoco by 3.3% in the first quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company's stock valued at $532,162,000 after acquiring an additional 296,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sunoco by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company's stock valued at $134,192,000 after acquiring an additional 128,042 shares during the period. Recurrent Investment Advisors LLC grew its stake in Sunoco by 2.9% in the fourth quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company's stock valued at $45,723,000 after acquiring an additional 24,686 shares during the period. Finally, Miller Howard Investments Inc. NY grew its stake in Sunoco by 15.5% in the first quarter. Miller Howard Investments Inc. NY now owns 687,244 shares of the oil and gas company's stock valued at $39,901,000 after acquiring an additional 92,187 shares during the period. Institutional investors own 24.29% of the company's stock.

Sunoco Stock Down 0.1%

Sunoco stock traded down $0.04 during midday trading on Thursday, reaching $52.34. The stock had a trading volume of 417,213 shares, compared to its average volume of 379,477. The firm's fifty day simple moving average is $53.19 and its 200-day simple moving average is $55.46. Sunoco LP has a 1-year low of $48.00 and a 1-year high of $59.88. The stock has a market capitalization of $7.99 billion, a P/E ratio of 25.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52.

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

Sunoco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be given a dividend of $0.9088 per share. This represents a $3.64 annualized dividend and a yield of 6.9%. This is a boost from Sunoco's previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Friday, August 8th. Sunoco's payout ratio is currently 179.31%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SUN shares. Mizuho decreased their target price on Sunoco from $68.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their target price on Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd.

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.