Neuberger Berman Group LLC grew its holdings in shares of Sunoco LP (NYSE:SUN - Free Report) by 63.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 497,891 shares of the oil and gas company's stock after purchasing an additional 193,278 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.33% of Sunoco worth $25,611,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in Sunoco by 17.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock valued at $64,000 after purchasing an additional 182 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Sunoco by 1.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 10,637 shares of the oil and gas company's stock valued at $570,000 after buying an additional 190 shares in the last quarter. Stifel Financial Corp grew its position in Sunoco by 0.8% during the 3rd quarter. Stifel Financial Corp now owns 25,251 shares of the oil and gas company's stock worth $1,355,000 after purchasing an additional 194 shares during the last quarter. World Investment Advisors LLC lifted its position in Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company's stock worth $204,000 after acquiring an additional 200 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Sunoco by 6.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,256 shares of the oil and gas company's stock valued at $219,000 after purchasing an additional 247 shares during the period. Institutional investors own 24.29% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Barclays lowered their target price on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Mizuho upped their price objective on shares of Sunoco from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.83.
Get Our Latest Research Report on Sunoco
Sunoco Trading Up 1.1 %
SUN stock traded up $0.61 during midday trading on Wednesday, reaching $56.98. 85,630 shares of the company's stock traded hands, compared to its average volume of 510,431. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. The company has a market capitalization of $8.70 billion, a P/E ratio of 8.63 and a beta of 1.06. The business has a 50-day moving average price of $56.80 and a two-hundred day moving average price of $54.57. Sunoco LP has a fifty-two week low of $48.00 and a fifty-two week high of $59.67.
Sunoco (NYSE:SUN - Get Free Report) last released its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Equities research analysts forecast that Sunoco LP will post 10.65 EPS for the current fiscal year.
Sunoco Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a dividend of $0.8865 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Sunoco's previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a yield of 6.22%. Sunoco's dividend payout ratio is currently 53.64%.
About Sunoco
(
Free Report)
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.
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