Allianz Asset Management GmbH Reduces Position in Sunoco LP $SUN

Allianz Asset Management GmbH trimmed its holdings in Sunoco LP (NYSE:SUN) by 19.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,800 shares of the oil and gas company’s stock after selling 28,500 shares during the quarter. Allianz Asset Management GmbH’s holdings in Sunoco were worth $5,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Duff & Phelps Investment Management Co. grew its position in Sunoco by 470.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 113,263 shares of the oil and gas company’s stock valued at $6,070,000 after acquiring an additional 93,394 shares during the last quarter. Chickasaw Capital Management LLC increased its position in shares of Sunoco by 58.2% during the third quarter. Chickasaw Capital Management LLC now owns 228,429 shares of the oil and gas company’s stock worth $11,424,000 after acquiring an additional 84,000 shares during the period. Energy Income Partners LLC raised its position in Sunoco by 4.1% during the 2nd quarter. Energy Income Partners LLC now owns 1,883,992 shares of the oil and gas company’s stock valued at $100,963,000 after purchasing an additional 73,696 shares in the last quarter. HRT Financial LP raised its holdings in shares of Sunoco by 69.8% in the second quarter. HRT Financial LP now owns 75,133 shares of the oil and gas company’s stock valued at $4,026,000 after acquiring an additional 30,877 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of Sunoco in the 2nd quarter valued at about $1,407,000. 24.29% of the stock is owned by institutional investors.

Sunoco Trading Up 1.3%

Shares of Sunoco stock opened at $58.32 on Tuesday. The firm’s 50 day simple moving average is $55.18 and its two-hundred day simple moving average is $53.22. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 19.90 and a beta of 0.51. Sunoco LP has a 12-month low of $47.98 and a 12-month high of $59.88. The company has a current ratio of 3.11, a quick ratio of 2.50 and a debt-to-equity ratio of 2.33.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be paid a $0.9317 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, February 6th. This represents a $3.73 dividend on an annualized basis and a yield of 6.4%. Sunoco’s dividend payout ratio (DPR) is 127.30%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SUN shares. Barclays set a $60.00 price objective on Sunoco and gave the stock an “overweight” rating in a research note on Friday. Raymond James Financial raised shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Monday, January 5th. Zacks Research downgraded shares of Sunoco from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings raised Sunoco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company set a $65.00 price objective on Sunoco and gave the company an “overweight” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Sunoco has a consensus rating of “Buy” and a consensus price target of $65.60.

Sunoco Profile

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.