Sunoco LP $SUN Holdings Decreased by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada Inc. has decreased its stake in Sunoco LP by 30.2%, now holding 50,351 shares worth approximately $2.7 million.
• Sunoco has declared a quarterly dividend of $0.9202, representing a 6.9% yield, up from its previous dividend of $0.91.
• The company reported a net margin of 2.02% and earnings of $0.33 per share, missing analyst estimates by $1.35.

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 30.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,351 shares of the oil and gas company's stock after selling 21,823 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Sunoco were worth $2,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SUN. Alps Advisors Inc. raised its stake in shares of Sunoco by 12.3% during 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 purchasing an additional 2,529,170 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sunoco by 14.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,978,209 shares of the oil and gas company's stock worth $172,915,000 after acquiring an additional 369,508 shares in the last quarter. Invesco Ltd. raised its position 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 worth $532,162,000 after acquiring an additional 296,791 shares in the last quarter. Cooperman Leon G bought a new stake in Sunoco in the first quarter worth about $16,547,000. Finally, Hennessy Advisors Inc. bought a new stake in Sunoco in the second quarter worth about $8,939,000. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SUN shares. Mizuho dropped their price target on shares of Sunoco from $67.00 to $66.00 and set an "outperform" rating on the stock in a research report on Friday, August 29th. Zacks Research upgraded shares of Sunoco from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. boosted their price target on shares of Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Sunoco in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Sunoco presently has a consensus rating of "Moderate Buy" and an average target price of $64.50.

Sunoco Price Performance

Shares of SUN opened at $53.42 on Wednesday. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 26.31 and a beta of 0.53. Sunoco LP has a fifty-two week low of $47.98 and a fifty-two week high of $59.88. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.80. The business's 50-day moving average is $51.09 and its 200-day moving average is $53.24.

Sunoco (NYSE:SUN - Get Free Report) last issued 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 business had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a net margin of 2.02% and a return on equity of 10.57%. Sunoco's revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.85 EPS. Equities research analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Thursday, October 30th will be paid a $0.9202 dividend. This represents a $3.68 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, October 30th. This is a positive change from Sunoco's previous quarterly dividend of $0.91. Sunoco's dividend payout ratio (DPR) is presently 179.31%.

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.

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