Sunoco LP (NYSE:SUN) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. trimmed its holdings in Sunoco LP (NYSE:SUN) by 57.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,707 shares of the oil and gas company’s stock after selling 13,246 shares during the period. Atria Wealth Solutions Inc.’s holdings in Sunoco were worth $582,000 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. CoreCap Advisors LLC purchased a new stake in Sunoco during the fourth quarter worth $2,036,000. PNC Financial Services Group Inc. boosted its position in Sunoco by 37.1% during the third quarter. PNC Financial Services Group Inc. now owns 35,140 shares of the oil and gas company’s stock worth $1,720,000 after purchasing an additional 9,500 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in Sunoco in the third quarter valued at approximately $777,000. International Assets Investment Management LLC increased its position in shares of Sunoco by 6,075.4% in the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after buying an additional 565,015 shares in the last quarter. Finally, Financial Counselors Inc. raised its stake in shares of Sunoco by 27.7% during the 4th quarter. Financial Counselors Inc. now owns 7,919 shares of the oil and gas company’s stock worth $475,000 after buying an additional 1,720 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Raymond James boosted their price target on shares of Sunoco from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Citigroup cut Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Tuesday, February 27th. JPMorgan Chase & Co. increased their price target on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Barclays boosted their price target on shares of Sunoco from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Finally, StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Sunoco has an average rating of “Hold” and a consensus price target of $62.71.

Insider Buying and Selling at Sunoco

In other Sunoco news, Director David K. Skidmore bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average price of $52.10 per share, for a total transaction of $78,150.00. Following the completion of the purchase, the director now directly owns 14,608 shares in the company, valued at $761,076.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sunoco Stock Performance

NYSE SUN opened at $55.91 on Monday. The company has a market cap of $5.64 billion, a P/E ratio of 15.36 and a beta of 1.29. Sunoco LP has a 1-year low of $41.95 and a 1-year high of $64.89. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.40 and a quick ratio of 0.76. The stock has a 50-day moving average of $58.88 and a two-hundred day moving average of $57.44.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of $0.96 by ($2.46). The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, analysts anticipate that Sunoco LP will post 5.07 EPS for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.876 dividend. This represents a $3.50 annualized dividend and a yield of 6.27%. The ex-dividend date is Friday, May 10th. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio is 92.58%.

About Sunoco

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.