Sunoco LP (NYSE:SUN) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its holdings in shares of Sunoco LP (NYSE:SUN - Free Report) by 32,166.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 231,351 shares of the oil and gas company's stock after buying an additional 230,634 shares during the quarter. CIBC Private Wealth Group LLC owned 0.15% of Sunoco worth $12,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Independence Bank of Kentucky bought a new position in Sunoco in the 4th quarter valued at $53,000. Steward Partners Investment Advisory LLC boosted its stake in shares of 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 period. Global Retirement Partners LLC grew its holdings in shares of Sunoco by 93.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company's stock worth $84,000 after purchasing an additional 788 shares during the last quarter. Allworth Financial LP increased its stake in Sunoco by 90.6% in the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company's stock worth $95,000 after buying an additional 819 shares during the period. Finally, IFP Advisors Inc lifted its holdings in Sunoco by 112.5% during the 4th quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company's stock valued at $126,000 after buying an additional 1,295 shares in the last quarter. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Down 7.4 %

NYSE:SUN traded down $4.24 during trading hours on Friday, reaching $52.76. The company's stock had a trading volume of 668,796 shares, compared to its average volume of 511,179. 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 market capitalization of $8.05 billion, a P/E ratio of 7.99 and a beta of 1.06. The stock has a 50 day moving average price of $57.61 and a two-hundred day moving average price of $54.61. Sunoco LP has a 12 month low of $49.45 and a 12 month high of $59.67.

Sunoco (NYSE:SUN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share 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 analysts predict that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.8865 dividend. This is a boost from Sunoco's previous quarterly dividend of $0.88. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date was Friday, February 7th. Sunoco's dividend payout ratio (DPR) is currently 53.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays dropped their target price on shares of Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Mizuho raised their price objective on Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Royal Bank of Canada upped their target price on Sunoco from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Sunoco currently has an average 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.