ELCO Management Co. LLC Sells 8,700 Shares of Sunoco LP (NYSE:SUN)

ELCO Management Co. LLC reduced its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 25.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,090 shares of the oil and gas company's stock after selling 8,700 shares during the period. ELCO Management Co. LLC's holdings in Sunoco were worth $1,515,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in Sunoco during the fourth quarter worth $31,000. Steward Partners Investment Advisory LLC boosted its position in Sunoco by 17.1% during 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 period. Transce3nd LLC bought a new position in Sunoco during the fourth quarter worth $90,000. Huntington National Bank boosted its position in Sunoco by 440.3% during the fourth 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 during the period. Finally, State of Wyoming bought a new position in Sunoco during the fourth quarter worth $102,000. 24.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SUN shares. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Barclays reduced their target price on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, Mizuho reduced their target price on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $64.50.

Sunoco Price Performance

SUN traded down $0.48 on Monday, hitting $53.06. 74,475 shares of the stock were exchanged, compared to its average volume of 439,891. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88. The business has a 50-day moving average of $54.28 and a two-hundred day moving average of $55.50. 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 market capitalization of $8.10 billion, a price-to-earnings ratio of 9.56 and a beta of 0.61.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data 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). Sunoco had a return on equity of 20.34% and a net margin of 3.80%. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the company earned $2.26 EPS. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a dividend of $0.8976 per share. This is an increase from Sunoco's previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.59 annualized dividend and a yield of 6.77%. Sunoco's payout ratio is presently 64.68%.

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.