Cooperman Leon G Has $81.02 Million Stock Position in Sunoco LP $SUN

Cooperman Leon G grew its holdings in shares of Sunoco LP (NYSE:SUN) by 10.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,620,000 shares of the oil and gas company’s stock after purchasing an additional 150,000 shares during the period. Sunoco makes up about 2.5% of Cooperman Leon G’s holdings, making the stock its 15th biggest holding. Cooperman Leon G’s holdings in Sunoco were worth $81,016,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. acquired a new stake in Sunoco in the third quarter valued at $31,000. Ancora Advisors LLC bought a new position in Sunoco during the 3rd quarter worth $40,000. Ulland Investment Advisors LLC acquired a new position in Sunoco during the 3rd quarter worth about $100,000. State of Wyoming acquired a new position in Sunoco during the 2nd quarter worth about $111,000. Finally, Caitlin John LLC bought a new stake in shares of Sunoco in the 3rd quarter valued at about $120,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Sunoco Stock Up 2.5%

Shares of NYSE:SUN opened at $64.44 on Friday. Sunoco LP has a 1 year low of $47.98 and a 1 year high of $65.24. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78. The business’s 50-day moving average is $59.54 and its 200-day moving average is $54.79. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 28.39 and a beta of 0.49.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $1.64 by ($1.55). Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business 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 business earned $0.75 EPS. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. Equities research analysts predict that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were paid a $0.9317 dividend. The ex-dividend date was Friday, February 6th. This represents a $3.73 annualized dividend and a dividend yield of 5.8%. This is an increase from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s dividend payout ratio (DPR) is presently 164.32%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SUN. Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Stifel Nicolaus lifted their price objective on Sunoco from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Zacks Research cut Sunoco from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Barclays set a $63.00 target price on shares of Sunoco in a research report on Friday, February 20th. Finally, Weiss Ratings downgraded shares of Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.83.

Sunoco 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.