GraniteShares Advisors LLC Sells 1,188 Shares of Sunoco LP (NYSE:SUN)

by · The Markets Daily

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GraniteShares Advisors LLC trimmed its position in Sunoco LP (NYSE:SUN – Free Report) by 3.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 31,667 shares of the oil and gas company’s stock after selling 1,188 shares during the period. Sunoco accounts for approximately 1.4% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. GraniteShares Advisors LLC’s holdings in Sunoco were worth $1,550,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Sunoco in the 4th quarter worth about $26,000. Steward Partners Investment Advisory LLC acquired a new stake in Sunoco during the 1st quarter worth approximately $26,000. Compass Wealth Management LLC grew its holdings in Sunoco by 60.0% during the 3rd quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Harbour Investments Inc. increased its position in Sunoco by 62.7% in the 1st quarter. Harbour Investments Inc. now owns 965 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 372 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in shares of Sunoco during the fourth quarter valued at $43,000. 17.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Sunoco from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, October 10th. Barclays upped their target price on Sunoco from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Raymond James raised their price target on shares of Sunoco from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Mizuho lifted their target price on shares of Sunoco from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 5th. Finally, StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sunoco has an average rating of “Hold” and an average price target of $51.50.

Get Our Latest Stock Report on SUN

Insider Activity

In other Sunoco news, insider Arnold Dodderer sold 7,832 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $53.20, for a total transaction of $416,662.40. Following the transaction, the insider now owns 77,890 shares in the company, valued at $4,143,748. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Sunoco Stock Up 2.4 %

Shares of Sunoco stock traded up $1.45 during trading on Monday, reaching $60.89. 207,800 shares of the company traded hands, compared to its average volume of 309,800. The firm has a market capitalization of $6.12 billion, a PE ratio of 10.95 and a beta of 1.29. Sunoco LP has a 1-year low of $40.81 and a 1-year high of $63.96. The company has a 50 day moving average price of $55.89 and a 200-day moving average price of $49.93. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.68 and a quick ratio of 1.07.

Sunoco (NYSE:SUN – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $1.11 by $1.84. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.62 billion. Sunoco had a net margin of 2.38% and a return on equity of 53.87%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, equities research analysts expect that Sunoco LP will post 5.19 earnings per share for the current fiscal year.

Sunoco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 30th were paid a $0.842 dividend. The ex-dividend date of this dividend was Friday, October 27th. This represents a $3.37 dividend on an annualized basis and a yield of 5.53%. Sunoco’s dividend payout ratio (DPR) is presently 60.61%.

Sunoco Company Profile

(Free Report)

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 company's 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 to commission agent locations.

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