Infrastructure Capital Advisors LLC lifted its stake in Sunoco LP (NYSE:SUN – Free Report) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 725,366 shares of the oil and gas company’s stock after buying an additional 76,939 shares during the period. Sunoco comprises approximately 3.7% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 12th largest holding. Infrastructure Capital Advisors LLC owned approximately 0.35% of Sunoco worth $38,016,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of SUN. Alps Advisors Inc. increased its holdings in Sunoco by 3.2% during the 4th quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock valued at $1,302,717,000 after purchasing an additional 766,781 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sunoco by 13.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock valued at $159,007,000 after purchasing an additional 374,396 shares in the last quarter. Energy Income Partners LLC increased its holdings in Sunoco by 1.7% during the 3rd quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock valued at $95,862,000 after purchasing an additional 32,866 shares in the last quarter. Morgan Stanley increased its holdings in Sunoco by 60.5% during the 4th quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock valued at $85,922,000 after purchasing an additional 617,700 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sunoco by 266.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock valued at $85,233,000 after purchasing an additional 1,182,662 shares in the last quarter. 24.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on SUN shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $80.00 price target on shares of Sunoco in a report on Wednesday, May 6th. Wells Fargo & Company raised their price target on Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings raised Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. raised their price target on Sunoco from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $74.13.
Sunoco Stock Down 1.4%
Shares of SUN opened at $62.66 on Thursday. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 16.03 and a beta of 0.43. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40. The business’s fifty day moving average price is $66.84 and its two-hundred day moving average price is $61.64. Sunoco LP has a 52 week low of $47.98 and a 52 week high of $72.88.
Sunoco (NYSE:SUN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.19 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The business’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. On average, analysts predict that Sunoco LP will post 7.92 earnings per share for the current year.
Sunoco Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.9899 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, May 8th. This is a positive change from Sunoco’s previous quarterly dividend of $0.93. Sunoco’s dividend payout ratio is 101.28%.
About Sunoco
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.
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