Miller Howard Investments Inc. NY Increases Holdings in Sunoco LP $SUN

Miller Howard Investments Inc. NY lifted its holdings in shares of Sunoco LP (NYSE:SUN) by 18.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,233 shares of the oil and gas company’s stock after purchasing an additional 126,964 shares during the period. Sunoco comprises approximately 1.4% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 29th largest holding. Miller Howard Investments Inc. NY owned 0.40% of Sunoco worth $53,031,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its position in Sunoco by 3.2% in the fourth quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock worth $1,302,717,000 after acquiring an additional 766,781 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Sunoco by 13.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock valued at $159,007,000 after acquiring an additional 374,396 shares during the period. Energy Income Partners LLC grew its position in shares of Sunoco by 1.7% during the 3rd quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock valued at $95,862,000 after acquiring an additional 32,866 shares during the period. Morgan Stanley increased its stake in shares of Sunoco by 60.5% during the 4th quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock worth $85,922,000 after purchasing an additional 617,700 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Sunoco by 266.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock worth $85,233,000 after purchasing an additional 1,182,662 shares during the last quarter. Institutional investors own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

SUN has been the topic of several research analyst reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 price objective on shares of Sunoco in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. Mizuho raised their price target on shares of Sunoco from $66.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price objective on Sunoco from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, March 24th. Finally, Citigroup upped their target price on shares of Sunoco from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Sunoco presently has a consensus rating of “Buy” and an average price target of $74.38.

Sunoco Price Performance

Shares of Sunoco stock opened at $65.60 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03. The firm has a market cap of $13.44 billion, a PE ratio of 16.78 and a beta of 0.43. Sunoco LP has a 12-month low of $47.98 and a 12-month high of $72.88. The company’s fifty day simple moving average is $66.68 and its two-hundred day simple moving average is $61.88.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.19 billion. During the same quarter in the prior year, the company posted $1.21 EPS. Sunoco’s quarterly revenue was up 106.4% compared to the same quarter last year. As a group, equities analysts expect that Sunoco LP will post 7.92 EPS for the current year.

Sunoco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.9899 per share. This represents a $3.96 annualized dividend and a dividend yield of 6.0%. This is a boost from Sunoco’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Friday, May 8th. Sunoco’s payout ratio is presently 101.28%.

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.