Tortoise Capital Advisors L.L.C. Sells 69,951 Shares of Sunoco LP (NYSE:SUN)

Tortoise Capital Advisors L.L.C. cut its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,279,736 shares of the oil and gas company's stock after selling 69,951 shares during the quarter. Sunoco accounts for 0.8% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 21st largest position. Tortoise Capital Advisors L.L.C. owned about 0.84% of Sunoco worth $65,830,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in Sunoco during the fourth quarter worth about $53,000. Steward Partners Investment Advisory LLC boosted its holdings 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 buying an additional 182 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company's stock worth $84,000 after acquiring an additional 788 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Sunoco in the 4th quarter worth $90,000. Finally, Huntington National Bank lifted its holdings in shares of Sunoco by 440.3% during the fourth quarter. Huntington National Bank now owns 1,783 shares of the oil and gas company's stock valued at $92,000 after purchasing an additional 1,453 shares during the last quarter. Institutional investors own 24.29% of the company's stock.

Sunoco Trading Down 0.3 %

NYSE:SUN traded down $0.17 on Friday, reaching $58.60. The company's stock had a trading volume of 73,008 shares, compared to its average volume of 505,304. The firm has a market cap of $8.95 billion, a PE ratio of 8.88 and a beta of 1.06. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. The business's 50-day moving average price is $56.91 and its two-hundred day moving average price is $54.76. Sunoco LP has a 1-year low of $48.00 and a 1-year high of $59.67.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Equities research analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a dividend of $0.8976 per share. The ex-dividend date is Friday, May 9th. This is an increase from Sunoco's previous quarterly dividend of $0.89. This represents a $3.59 dividend on an annualized basis and a dividend yield of 6.13%. Sunoco's dividend payout ratio (DPR) is presently 53.64%.

Wall Street Analysts Forecast Growth

SUN has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Sunoco from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday. Mizuho raised their price target on Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a research report on Thursday, April 3rd. Finally, Barclays cut their price objective on Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $64.33.

Sunoco 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.