Stratos Wealth Partners LTD. Reduces Stake in Sunoco LP (NYSE:SUN)

Stratos Wealth Partners LTD. lessened its holdings in shares of Sunoco LP (NYSE:SUN) by 10.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,972 shares of the oil and gas company’s stock after selling 992 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sunoco were worth $462,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Independence Bank of Kentucky acquired a new stake in Sunoco during the fourth quarter worth approximately $53,000. Kieckhefer Group LLC purchased a new position in shares of Sunoco in the 4th quarter valued at $129,000. Wilmington Savings Fund Society FSB acquired a new stake in Sunoco during the 3rd quarter worth $165,000. World Investment Advisors LLC lifted its position in Sunoco by 5.6% in the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after acquiring an additional 200 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in Sunoco in the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of SUN stock opened at $57.38 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The stock has a market cap of $8.74 billion, a PE ratio of 13.19 and a beta of 1.36. The stock has a fifty day moving average price of $53.92 and a 200 day moving average price of $53.40. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $64.89.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.73). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sell-side analysts forecast that Sunoco LP will post 9.63 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be issued a $0.8865 dividend. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.18%. Sunoco’s payout ratio is 80.46%.

Wall Street Analyst Weigh In

SUN has been the topic of several research analyst reports. Mizuho lifted their price target on Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Barclays lifted their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada increased their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunoco currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.43.

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.