Goldman Sachs Group Inc. Reduces Stock Position in Sunoco LP $SUN

Goldman Sachs Group Inc. lowered its holdings in shares of Sunoco LP (NYSE:SUN) by 8.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,861,688 shares of the oil and gas company’s stock after selling 534,026 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Sunoco were worth $307,211,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Texas Yale Capital Corp. raised its position in Sunoco by 7.4% during the 4th quarter. Texas Yale Capital Corp. now owns 130,696 shares of the oil and gas company’s stock valued at $6,850,000 after purchasing an additional 8,980 shares in the last quarter. Sfmg LLC raised its position in Sunoco by 32.3% during the 4th quarter. Sfmg LLC now owns 8,200 shares of the oil and gas company’s stock valued at $430,000 after purchasing an additional 2,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Sunoco during the 4th quarter valued at $95,000. Kingsview Wealth Management LLC raised its position in Sunoco by 2.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,720 shares of the oil and gas company’s stock valued at $509,000 after purchasing an additional 205 shares in the last quarter. Finally, Evoke Wealth LLC bought a new stake in Sunoco during the 4th quarter valued at $256,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on SUN shares. Mizuho boosted their price target on Sunoco from $66.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada boosted their price target on Sunoco to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Barclays boosted their price target on Sunoco from $63.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. boosted their target price on Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Sunoco has a consensus rating of “Buy” and an average target price of $74.13.

Sunoco Stock Down 1.4%

Sunoco stock opened at $66.36 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. The business’s 50-day simple moving average is $66.96 and its two-hundred day simple moving average is $61.05. The company has a market cap of $13.59 billion, a PE ratio of 16.97 and a beta of 0.43. Sunoco LP has a fifty-two week low of $47.98 and a fifty-two week high of $72.88.

Sunoco (NYSE:SUN) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The company’s quarterly revenue was up 106.4% compared to the same quarter last year. Equities analysts anticipate that Sunoco LP will post 7.92 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. This represents a $3.96 dividend on an annualized basis and a dividend yield of 6.0%. Sunoco’s dividend payout ratio (DPR) is currently 101.28%.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.