Good Life Advisors LLC Cuts Stock Holdings in Sunoco LP (NYSE:SUN)

Good Life Advisors LLC cut its position in shares of Sunoco LP (NYSE:SUN) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,007 shares of the oil and gas company’s stock after selling 715 shares during the period. Good Life Advisors LLC’s holdings in Sunoco were worth $412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its position in shares of Sunoco by 1.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company’s stock worth $570,000 after acquiring an additional 190 shares during the period. Stifel Financial Corp increased its stake in shares of Sunoco by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company’s stock valued at $1,355,000 after purchasing an additional 194 shares in the last quarter. Tyche Wealth Partners LLC raised its holdings in Sunoco by 5.4% in the 3rd quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares during the period. World Investment Advisors LLC boosted its position in Sunoco by 5.6% during the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 200 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in Sunoco by 2.6% in the third quarter. IHT Wealth Management LLC now owns 9,627 shares of the oil and gas company’s stock valued at $517,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Down 0.5 %

Shares of SUN opened at $58.03 on Friday. The stock has a 50 day moving average price of $54.39 and a 200 day moving average price of $53.56. Sunoco LP has a one year low of $49.45 and a one year high of $64.89. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 8.79 and a beta of 1.36.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 24.03% and a net margin of 3.85%. Equities research analysts forecast that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.8865 per share. This represents a $3.55 annualized dividend and a yield of 6.11%. The ex-dividend date was Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio is currently 53.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SUN shares. Barclays upped their target price on Sunoco from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price objective on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Mizuho lifted their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.83.

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.