Pinnacle Private Wealth LLC Decreases Holdings in Sunoco LP (NYSE:SUN)

Pinnacle Private Wealth LLC decreased its position in shares of Sunoco LP (NYSE:SUNGet Rating) by 1.1% in the second quarter, HoldingsChannel reports. The fund owned 42,030 shares of the oil and gas company’s stock after selling 450 shares during the quarter. Pinnacle Private Wealth LLC’s holdings in Sunoco were worth $1,566,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Sunoco by 1.7% during the first quarter. International Assets Investment Management LLC now owns 15,519 shares of the oil and gas company’s stock valued at $634,000 after acquiring an additional 266 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in Sunoco by 7.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,369 shares of the oil and gas company’s stock valued at $219,000 after purchasing an additional 357 shares in the last quarter. Brookstone Capital Management increased its stake in Sunoco by 4.0% during the 1st quarter. Brookstone Capital Management now owns 13,175 shares of the oil and gas company’s stock valued at $551,000 after purchasing an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Sunoco by 5.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,897 shares of the oil and gas company’s stock valued at $527,000 after purchasing an additional 704 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Sunoco by 15.8% during the 1st quarter. Truist Financial Corp now owns 5,970 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 814 shares in the last quarter. Hedge funds and other institutional investors own 16.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SUN. Wells Fargo & Company lowered shares of Sunoco from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $46.00 to $41.00 in a research note on Tuesday, May 31st. Mizuho upped their price target on shares of Sunoco from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Barclays cut their price target on shares of Sunoco from $47.00 to $44.00 in a research note on Wednesday, July 20th. Finally, StockNews.com upgraded shares of Sunoco from a “hold” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Sunoco has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Sunoco Stock Performance

Shares of NYSE:SUN traded down $1.12 during midday trading on Friday, reaching $38.88. The company’s stock had a trading volume of 23,241 shares, compared to its average volume of 187,644. The firm has a market capitalization of $3.89 billion, a PE ratio of 7.03 and a beta of 1.48. Sunoco LP has a twelve month low of $34.26 and a twelve month high of $46.95. The stock has a fifty day moving average of $39.96 and a 200 day moving average of $40.23. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 3.61.

Sunoco (NYSE:SUNGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The oil and gas company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Sunoco had a net margin of 2.36% and a return on equity of 61.22%. The firm had revenue of $7.82 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business’s quarterly revenue was up 77.9% compared to the same quarter last year. On average, equities analysts expect that Sunoco LP will post 5.99 EPS for the current fiscal year.

Sunoco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were issued a dividend of $0.8255 per share. This represents a $3.30 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date was Friday, August 5th. Sunoco’s dividend payout ratio (DPR) is presently 60.33%.

Sunoco Profile

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Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

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Institutional Ownership by Quarter for Sunoco (NYSE:SUN)

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