Fmr LLC Has $1.37 Million Stock Holdings in Sunoco LP (NYSE:SUN)

Fmr LLC reduced its stake in shares of Sunoco LP (NYSE:SUN) by 96.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,470 shares of the oil and gas company’s stock after selling 672,125 shares during the period. Fmr LLC’s holdings in Sunoco were worth $1,367,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Longfellow Investment Management Co. LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth $32,000. First Horizon Advisors Inc. acquired a new stake in shares of Sunoco during the 2nd quarter worth $38,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth $46,000. HHM Wealth Advisors LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth $93,000. Finally, Wealth Alliance Advisory Group LLC acquired a new stake in shares of Sunoco during the 2nd quarter worth $207,000. 24.29% of the stock is owned by institutional investors and hedge funds.

Sunoco Price Performance

Sunoco stock opened at $53.36 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $8.13 billion, a PE ratio of 12.27 and a beta of 1.33. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $64.89. The stock has a 50-day moving average price of $53.13 and a two-hundred day moving average price of $53.77.

Sunoco (NYSE:SUN) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sunoco’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.95 earnings per share. Analysts expect that Sunoco LP will post 7.16 EPS for the current year.

Sunoco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.8756 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.50 annualized dividend and a yield of 6.56%. Sunoco’s dividend payout ratio is presently 80.46%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada raised their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays raised their price objective on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average target price of $62.75.

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.