Commonwealth Equity Services LLC Sells 801 Shares of Sunoco LP (NYSE:SUN)

Commonwealth Equity Services LLC decreased its stake in shares of Sunoco LP (NYSE:SUNFree Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,324 shares of the oil and gas company’s stock after selling 801 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Sunoco were worth $1,708,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SUN. Tower Research Capital LLC TRC increased its holdings in Sunoco by 56,492.3% during the third quarter. Tower Research Capital LLC TRC now owns 7,357 shares of the oil and gas company’s stock valued at $360,000 after buying an additional 7,344 shares during the period. WealthPlan Investment Management LLC purchased a new stake in Sunoco in the 3rd quarter worth approximately $368,000. Exchange Traded Concepts LLC lifted its stake in Sunoco by 12.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 73,172 shares of the oil and gas company’s stock valued at $4,385,000 after buying an additional 8,180 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Sunoco in the fourth quarter worth approximately $227,000. Finally, Brookstone Capital Management lifted its stake in shares of Sunoco by 1.9% in the fourth quarter. Brookstone Capital Management now owns 10,013 shares of the oil and gas company’s stock worth $600,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Trading Down 1.2 %

Shares of SUN opened at $55.51 on Friday. The firm’s 50-day moving average is $53.96 and its two-hundred day moving average is $57.60. Sunoco LP has a twelve month low of $43.10 and a twelve month high of $64.89. The company has a current ratio of 1.65, a quick ratio of 1.07 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $5.60 billion, a P/E ratio of 12.36 and a beta of 1.31.

Sunoco (NYSE:SUNGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. Sunoco had a net margin of 2.08% and a return on equity of 35.56%. The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.13 billion. On average, research analysts predict that Sunoco LP will post 6.09 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a $0.876 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. This represents a $3.50 annualized dividend and a yield of 6.31%. The ex-dividend date was Friday, May 10th. Sunoco’s dividend payout ratio is presently 77.95%.

Insider Activity

In related news, EVP Austin Harkness bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $49.74 per share, with a total value of $49,740.00. Following the completion of the transaction, the executive vice president now directly owns 83,686 shares of the company’s stock, valued at $4,162,541.64. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Austin Harkness purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average price of $49.74 per share, with a total value of $49,740.00. Following the completion of the transaction, the executive vice president now owns 83,686 shares of the company’s stock, valued at $4,162,541.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian A. Hand bought 2,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the purchase, the executive vice president now owns 153,255 shares in the company, valued at approximately $7,599,915.45. The disclosure for this purchase can be found here. Insiders purchased 9,500 shares of company stock valued at $479,570 in the last ninety days.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of analyst reports. Barclays started coverage on shares of Sunoco in a report on Monday, June 10th. They issued an “overweight” rating and a $61.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Sunoco in a research note on Wednesday, June 5th. They set an “overweight” rating and a $61.00 target price on the stock. Stifel Nicolaus raised Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Friday, June 7th. Mizuho raised Sunoco from a “neutral” rating to a “buy” rating and cut their price target for the stock from $60.00 to $59.00 in a research report on Tuesday, June 4th. Finally, StockNews.com raised Sunoco from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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Sunoco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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