ELCO Management Co. LLC Boosts Stock Holdings in Sunoco LP (NYSE:SUN)

ELCO Management Co. LLC raised its position in shares of Sunoco LP (NYSE:SUN - Free Report) by 44.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,790 shares of the oil and gas company's stock after purchasing an additional 10,695 shares during the period. Sunoco comprises 0.9% of ELCO Management Co. LLC's portfolio, making the stock its 28th biggest position. ELCO Management Co. LLC's holdings in Sunoco were worth $1,790,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SUN. JPMorgan Chase & Co. increased its holdings in Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company's stock valued at $117,644,000 after buying an additional 455,361 shares during the period. Barclays PLC raised its position in shares of Sunoco by 908,833.3% in the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company's stock worth $23,419,000 after acquiring an additional 436,240 shares in the last quarter. ING Groep NV lifted its stake in shares of Sunoco by 223.7% during the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company's stock worth $26,426,000 after purchasing an additional 355,000 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Sunoco during the fourth quarter valued at about $17,739,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Sunoco by 32,166.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company's stock worth $12,137,000 after purchasing an additional 230,634 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

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Sunoco Stock Performance

Shares of NYSE SUN traded up $0.24 during mid-day trading on Monday, hitting $54.11. The stock had a trading volume of 113,952 shares, compared to its average volume of 511,770. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. The company has a 50 day moving average of $56.92 and a two-hundred day moving average of $54.54. The firm has a market cap of $8.26 billion, a PE ratio of 8.20 and a beta of 1.06. Sunoco LP has a twelve month low of $48.00 and a twelve month high of $59.67.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. Research analysts predict that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.8865 per share. This is a positive change from Sunoco's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, February 7th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.55%. Sunoco's dividend payout ratio (DPR) is 53.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SUN shares. Barclays cut their price objective on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Mizuho upped their price target on Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $63.83.

About Sunoco

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.