Sunoco LP (NYSE:SUN) Shares Sold by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC lessened its stake in Sunoco LP (NYSE:SUN) by 2.7% in the 3rd quarter, Holdings Channel reports. The firm owned 13,259 shares of the oil and gas company’s stock after selling 365 shares during the period. Quad Cities Investment Group LLC’s holdings in Sunoco were worth $712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CNB Bank acquired a new stake in shares of Sunoco during the first quarter worth about $30,000. Longfellow Investment Management Co. LLC purchased a new position in Sunoco in the 2nd quarter valued at approximately $32,000. First Horizon Advisors Inc. acquired a new position in shares of Sunoco in the second quarter worth $38,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Sunoco during the second quarter worth $46,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Sunoco in the first quarter valued at $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of SUN traded down $0.23 during mid-day trading on Thursday, reaching $52.47. 99,243 shares of the company’s stock were exchanged, compared to its average volume of 527,661. Sunoco LP has a 52-week low of $49.00 and a 52-week high of $64.89. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72. The stock has a market capitalization of $8.00 billion, a PE ratio of 6.97 and a beta of 1.30. The business’s fifty day simple moving average is $53.08 and its 200-day simple moving average is $54.26.

Sunoco (NYSE:SUN) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share for the quarter, topping the consensus estimate of $1.23 by $2.62. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.63 billion. Sunoco had a net margin of 3.80% and a return on equity of 41.76%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, equities research analysts expect that Sunoco LP will post 8.09 earnings per share for the current year.

Sunoco Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend was Friday, August 9th. Sunoco’s payout ratio is currently 46.30%.

Analysts Set New Price Targets

SUN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Sunoco from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Royal Bank of Canada raised their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays decreased their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and a consensus target price 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.