Barnett & Company Inc. Sells 1,850 Shares of Sunoco LP (NYSE:SUN)

Barnett & Company Inc. lowered its stake in shares of Sunoco LP (NYSE:SUN) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,033 shares of the oil and gas company’s stock after selling 1,850 shares during the quarter. Sunoco accounts for 1.8% of Barnett & Company Inc.’s holdings, making the stock its 18th biggest holding. Barnett & Company Inc.’s holdings in Sunoco were worth $2,739,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SUN. Longfellow Investment Management Co. LLC bought a new stake in Sunoco in the second quarter worth about $32,000. First Horizon Advisors Inc. purchased a new position in Sunoco during the 2nd quarter valued at $38,000. Redwood Wealth Management Group LLC purchased a new position in Sunoco during the 2nd quarter valued at $46,000. HHM Wealth Advisors LLC bought a new position in Sunoco in the 2nd quarter valued at $93,000. Finally, Kingsview Wealth Management LLC purchased a new stake in Sunoco in the first quarter worth $201,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Up 0.6 %

SUN stock traded up $0.30 during trading on Tuesday, hitting $51.79. 56,613 shares of the company’s stock traded hands, compared to its average volume of 519,364. The firm has a market capitalization of $7.89 billion, a P/E ratio of 11.85 and a beta of 1.31. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The business has a fifty day simple moving average of $52.75 and a two-hundred day simple moving average of $53.73.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 24.47%. The company’s revenue 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. Sell-side analysts anticipate that Sunoco LP will post 7.16 EPS for the current year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.8756 per share. This represents a $3.50 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s payout ratio is 80.46%.

Analyst Upgrades and Downgrades

SUN has been the topic of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, StockNews.com downgraded shares of Sunoco from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.25.

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.