Private Advisor Group LLC Sells 15,723 Shares of Sunoco LP (NYSE:SUN)

Private Advisor Group LLC lessened its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 30.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,551 shares of the oil and gas company's stock after selling 15,723 shares during the period. Private Advisor Group LLC's holdings in Sunoco were worth $2,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SUN. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Sunoco during the 4th quarter worth about $31,000. Transce3nd LLC purchased a new stake in Sunoco during the 4th quarter worth about $90,000. Huntington National Bank lifted its holdings in Sunoco by 440.3% during the 4th quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company's stock worth $92,000 after purchasing an additional 1,453 shares in the last quarter. State of Wyoming bought a new position in Sunoco in the 4th quarter worth about $102,000. Finally, Townsquare Capital LLC bought a new position in Sunoco in the 4th quarter worth about $200,000. Hedge funds and other institutional investors own 24.29% of the company's stock.

Sunoco Price Performance

NYSE SUN traded down $0.02 during trading on Monday, reaching $53.50. The company's stock had a trading volume of 49,322 shares, compared to its average volume of 435,556. The stock has a market capitalization of $8.17 billion, a PE ratio of 9.64 and a beta of 0.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.55 and a quick ratio of 0.86. The firm has a fifty day moving average of $53.68 and a 200 day moving average of $55.58. Sunoco LP has a one year low of $48.00 and a one year high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.48). The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.58 billion. Sunoco had a net margin of 3.80% and a return on equity of 20.34%. Sunoco's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.26 earnings per share. Analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a dividend of $0.9088 per share. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Sunoco's previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 6.80%. Sunoco's dividend payout ratio is 64.68%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SUN shares. Mizuho decreased their target price on Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.75.

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.