Westwood Holdings Group Inc. reduced its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 23.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,596 shares of the oil and gas company's stock after selling 7,800 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Sunoco were worth $1,486,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. IPG Investment Advisors LLC bought a new position in Sunoco in the first quarter valued at approximately $218,000. Delta Financial Group Inc. bought a new position in Sunoco in the first quarter valued at approximately $518,000. Moors & Cabot Inc. boosted its stake in Sunoco by 8.4% in the first quarter. Moors & Cabot Inc. now owns 15,424 shares of the oil and gas company's stock valued at $896,000 after acquiring an additional 1,200 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in Sunoco in the first quarter valued at approximately $254,000. Finally, LPL Financial LLC boosted its stake in Sunoco by 3.9% in the first quarter. LPL Financial LLC now owns 184,925 shares of the oil and gas company's stock valued at $10,737,000 after acquiring an additional 6,986 shares during the last quarter. 24.29% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
SUN has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Mizuho cut their target price on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a report on Monday, July 14th.
Read Our Latest Research Report on SUN
Sunoco Stock Performance
Shares of SUN stock traded down $0.19 during midday trading on Friday, hitting $52.12. 673,721 shares of the company were exchanged, compared to its average volume of 350,726. The firm has a market capitalization of $7.96 billion, a P/E ratio of 25.68 and a beta of 0.60. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.86 and a current ratio of 1.55. The firm's 50 day moving average price is $53.36 and its two-hundred day moving average price is $55.57. Sunoco LP has a 52 week low of $48.00 and a 52 week high of $59.88.
Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.42 billion. Sunoco had a net margin of 2.02% and a return on equity of 10.55%. The business's revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 EPS. As a group, equities research analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.
Sunoco Increases Dividend
The business also recently disclosed 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. The ex-dividend date is Friday, August 8th. This represents a $3.64 dividend on an annualized basis and a yield of 7.0%. This is a positive change from Sunoco's previous quarterly dividend of $0.90. Sunoco's dividend payout ratio is currently 176.85%.
Sunoco Company Profile
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Free Report)
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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