Sunoco LP (NYSE:SUN) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lessened its holdings in Sunoco LP (NYSE:SUN – Get Rating) by 46.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,801 shares of the oil and gas company’s stock after selling 5,000 shares during the quarter. Perigon Wealth Management LLC’s holdings in Sunoco were worth $226,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its stake in Sunoco by 3.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,958 shares of the oil and gas company’s stock valued at $310,000 after buying an additional 247 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Sunoco by 1.7% in the first quarter. International Assets Investment Management LLC now owns 15,519 shares of the oil and gas company’s stock valued at $634,000 after buying an additional 266 shares during the last quarter. Sigma Planning Corp lifted its stake in Sunoco by 0.8% in the second quarter. Sigma Planning Corp now owns 39,236 shares of the oil and gas company’s stock valued at $1,462,000 after buying an additional 329 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in Sunoco by 7.1% in the first quarter. Cetera Advisor Networks LLC now owns 5,369 shares of the oil and gas company’s stock valued at $219,000 after buying an additional 357 shares during the last quarter. Finally, American Financial Group Inc. lifted its stake in Sunoco by 3.3% in the third quarter. American Financial Group Inc. now owns 15,500 shares of the oil and gas company’s stock valued at $604,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

Sunoco Trading Down 0.8 %

Shares of SUN opened at $41.60 on Friday. The business’s 50-day moving average price is $45.74 and its 200 day moving average price is $43.01. The stock has a market capitalization of $4.18 billion, a P/E ratio of 8.87 and a beta of 1.36. Sunoco LP has a 1-year low of $34.26 and a 1-year high of $48.59. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 3.79.

Sunoco (NYSE:SUN – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The oil and gas company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.35). The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $4.95 billion. Sunoco had a return on equity of 49.43% and a net margin of 1.85%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. Analysts expect that Sunoco LP will post 4.34 earnings per share for the current year.

Sunoco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Tuesday, February 7th were paid a $0.8255 dividend. The ex-dividend date of this dividend was Monday, February 6th. This represents a $3.30 dividend on an annualized basis and a yield of 7.94%. Sunoco’s dividend payout ratio is currently 70.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Mizuho raised their target price on Sunoco from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Citigroup lifted their price objective on shares of Sunoco from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 21st. Barclays lifted their price objective on shares of Sunoco from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. StockNews.com started coverage on shares of Sunoco in a research note on Thursday. They set a “hold” rating on the stock. Finally, Wells Fargo & Company upgraded shares of Sunoco from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $43.00 to $47.00 in a research report on Friday, December 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.67.

Sunoco Profile

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Sunoco LP engages in the management and distribution of fuel products. It operates through Fuel Distribution and Marketing and All Other segments. The Fuel Distribution and Marketing segment supplies fuels and other petroleum products, which it supplies to third-party dealers and distributors, independent operators of commission agent, other commercial consumers of motor fuel and to retail locations.