Independent Advisor Alliance Sells 1,548 Shares of Sunoco LP (NYSE:SUN)

Independent Advisor Alliance decreased its stake in Sunoco LP (NYSE:SUN) by 15.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,181 shares of the oil and gas company’s stock after selling 1,548 shares during the period. Independent Advisor Alliance’s holdings in Sunoco were worth $439,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SUN. Advisors Asset Management Inc. bought a new stake in shares of Sunoco in the 1st quarter worth approximately $370,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Sunoco by 5.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,877 shares of the oil and gas company’s stock valued at $595,000 after buying an additional 498 shares during the period. Cetera Advisors LLC lifted its position in shares of Sunoco by 110.1% during the 1st quarter. Cetera Advisors LLC now owns 7,745 shares of the oil and gas company’s stock valued at $467,000 after buying an additional 4,058 shares during the last quarter. Institutional & Family Asset Management LLC bought a new position in shares of Sunoco during the 2nd quarter worth $765,000. Finally, Chickasaw Capital Management LLC purchased a new stake in Sunoco in the 2nd quarter worth about $3,257,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Price Performance

Shares of NYSE:SUN opened at $54.63 on Friday. The company’s fifty day moving average price is $52.82 and its 200-day moving average price is $53.52. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 12.56 and a beta of 1.31. Sunoco LP has a one year low of $49.45 and a one year high of $64.89.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.95 EPS. On average, equities research analysts anticipate that Sunoco LP will post 7.16 earnings per share for the current fiscal year.

Sunoco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.8756 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.41%. Sunoco’s dividend payout ratio (DPR) is 80.46%.

Analyst Ratings Changes

Several equities research analysts have commented on SUN shares. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada boosted their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.25.

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.