Bank of Montreal Can lowered its holdings in shares of Sunoco LP (NYSE:SUN) by 49.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,889 shares of the oil and gas company’s stock after selling 227,514 shares during the period. Bank of Montreal Can owned about 0.21% of Sunoco worth $2,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SUN. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Sunoco by 5.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 72,491 shares of the oil and gas company’s stock valued at $572,000 after purchasing an additional 3,436 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Sunoco by 2.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 148,240 shares of the oil and gas company’s stock valued at $1,363,000 after purchasing an additional 3,112 shares during the period. BlackRock Inc. increased its stake in shares of Sunoco by 6.2% in the 4th quarter. BlackRock Inc. now owns 27,798,099 shares of the oil and gas company’s stock valued at $242,874,000 after purchasing an additional 1,618,682 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of Sunoco by 49.7% in the 4th quarter. MetLife Investment Advisors LLC now owns 32,410 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 10,510 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Sunoco by 273.9% in the 4th quarter. BNP Paribas Arbitrage SA now owns 4,759 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 3,900 shares during the period. Institutional investors own 62.62% of the company’s stock.

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Shares of SUN stock opened at $6.11 on Friday. Sunoco LP has a 1 year low of $5.54 and a 1 year high of $10.31. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.31 and a quick ratio of 0.83. The stock has a market capitalization of $3.15 billion, a PE ratio of -1.42 and a beta of 2.19.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, February 27th. The oil and gas company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Sunoco had a negative return on equity of 0.24% and a negative net margin of 0.05%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.81 billion. As a group, equities analysts forecast that Sunoco LP will post -0.12 EPS for the current year.

Several equities analysts have commented on SUN shares. ValuEngine raised Sunoco from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. Royal Bank of Canada cut Sunoco from an “outperform” rating to a “sector perform” rating and set a $8.00 price objective for the company. in a research note on Monday, January 14th.

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Sunoco Profile

Sunoco LP owns and operates convenience stores. As of December 31, 2017, it operated more than 1,800 retail fuel service sites in 37 states. Sunoco LP was founded in 2003 and is based in Philadelphia, Pennsylvania.

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