CIBC Private Wealth Group LLC Buys 15,810 Shares of Sunoco LP $SUN

CIBC Private Wealth Group LLC lifted its stake in 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 purchasing an additional 15,810 shares during the period. CIBC Private Wealth Group LLC owned 0.07% of Sunoco worth $7,104,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Alps Advisors Inc. increased its position 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sunoco by 13.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,179,502 shares of the oil and gas company’s stock worth $159,007,000 after buying an additional 374,396 shares during the period. Energy Income Partners LLC boosted its position in 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 in the last quarter. Cooperman Leon G boosted its position in Sunoco by 10.2% during the 3rd quarter. Cooperman Leon G now owns 1,620,000 shares of the oil and gas company’s stock valued at $81,016,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of Sunoco by 6.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 713,303 shares of the oil and gas company’s stock worth $35,672,000 after acquiring an additional 43,034 shares during the period. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

Shares of Sunoco stock opened at $65.01 on Friday. The company has a market capitalization of $13.31 billion, a PE ratio of 28.64 and a beta of 0.49. The company has a 50-day simple moving average of $60.67 and a two-hundred day simple moving average of $55.24. Sunoco LP has a one year low of $47.98 and a one year high of $67.82. 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 released its quarterly earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). The firm had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $9.65 billion. Sunoco had a net margin of 2.01% and a return on equity of 10.76%. The firm’s quarterly revenue was up 63.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. Research analysts expect that Sunoco LP will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James Financial raised 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. Barclays set a $63.00 price objective on Sunoco in a report on Friday, February 20th. 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 target price on shares of Sunoco from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, Stifel Nicolaus increased their price target on shares of Sunoco from $61.00 to $64.00 and gave the stock 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 assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sunoco currently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

About Sunoco

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.