Sunoco LP $SUN Holdings Raised by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its stake in Sunoco LP (NYSE:SUN) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 713,303 shares of the oil and gas company’s stock after purchasing an additional 43,034 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.47% of Sunoco worth $35,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. grew its holdings in shares of Sunoco by 2.6% during the third quarter. Alps Advisors Inc. now owns 24,089,484 shares of the oil and gas company’s stock valued at $1,204,715,000 after buying an additional 599,655 shares in the last quarter. Energy Income Partners LLC increased its holdings in shares of Sunoco by 4.1% in the 2nd quarter. Energy Income Partners LLC now owns 1,883,992 shares of the oil and gas company’s stock valued at $100,963,000 after purchasing an additional 73,696 shares during the period. Miller Howard Investments Inc. NY increased its holdings in shares of Sunoco by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 694,880 shares of the oil and gas company’s stock valued at $34,751,000 after purchasing an additional 3,784 shares during the period. Barclays PLC lifted its position in shares of Sunoco by 33.7% in the third quarter. Barclays PLC now owns 593,970 shares of the oil and gas company’s stock worth $29,704,000 after purchasing an additional 149,732 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Sunoco by 5.5% during the second quarter. Raymond James Financial Inc. now owns 365,953 shares of the oil and gas company’s stock worth $19,611,000 after purchasing an additional 18,990 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Performance

SUN opened at $64.20 on Friday. The company has a market cap of $13.15 billion, a PE ratio of 28.28 and a beta of 0.49. The stock has a 50-day moving average of $58.42 and a 200-day moving average of $54.38. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $65.24. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.78 and a current ratio of 1.38.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, February 17th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The company had revenue of $8.60 billion for the quarter, compared to analyst estimates of $9.65 billion. During the same period in the prior year, the company posted $0.75 EPS. The business’s revenue was up 63.2% on a year-over-year basis. As a group, equities research analysts forecast that Sunoco LP will post 10.65 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a $0.9317 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.92. This represents a $3.73 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, February 6th. Sunoco’s payout ratio is 164.32%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James Financial upgraded shares of Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Monday, January 5th. Wall Street Zen cut shares of Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Wells Fargo & Company upped their price target on shares of Sunoco from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings lowered Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Finally, Stifel Nicolaus boosted their target price on Sunoco from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.17.

Sunoco Company Profile

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.