Sunoco LP $SUN Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its holdings in shares of Sunoco LP (NYSE:SUN) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,055 shares of the oil and gas company’s stock after acquiring an additional 15,810 shares during the period. CIBC Private Wealth Group LLC’s holdings in Sunoco were worth $7,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new position in Sunoco during the third quarter valued at $7,104,000. Advisory Services Network LLC acquired a new stake in Sunoco during the 3rd quarter worth about $134,000. Abel Hall LLC acquired a new stake in Sunoco during the 3rd quarter worth about $300,000. Virtus Advisers LLC purchased a new position in shares of Sunoco during the 3rd quarter valued at about $219,000. Finally, Mariner LLC raised its stake in shares of Sunoco by 3.3% during the 3rd quarter. Mariner LLC now owns 51,177 shares of the oil and gas company’s stock valued at $2,559,000 after buying an additional 1,653 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SUN has been the topic of a number of recent research reports. Raymond James Financial upgraded Sunoco from an “outperform” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a research note on Monday, January 5th. Wells Fargo & Company lifted their price target on Sunoco from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Weiss Ratings downgraded Sunoco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 23rd. Wall Street Zen lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Barclays set a $63.00 price objective on shares of Sunoco in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average target price of $66.83.

Sunoco Stock Performance

NYSE:SUN opened at $65.01 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $13.31 billion, a P/E ratio of 28.64 and a beta of 0.49. The firm has a 50-day moving average price of $60.67 and a two-hundred day moving average price of $55.24. Sunoco LP has a twelve month low of $47.98 and a twelve month high of $67.82.

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

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a $0.9317 dividend. This represents a $3.73 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, February 6th. This is an increase from Sunoco’s previous quarterly dividend of $0.92. Sunoco’s dividend payout ratio is currently 164.32%.

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.