Sunoco LP (NYSE:SUN) Stock Position Lifted by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its stake in Sunoco LP (NYSE:SUN) by 32,166.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 231,351 shares of the oil and gas company’s stock after buying an additional 230,634 shares during the quarter. CIBC Private Wealth Group LLC owned 0.15% of Sunoco worth $12,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new position in shares of Sunoco in the fourth quarter worth $53,000. Steward Partners Investment Advisory LLC increased its position in Sunoco by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 182 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Sunoco by 93.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 788 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Sunoco by 90.6% during the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock valued at $95,000 after buying an additional 819 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Sunoco by 112.5% in the 4th quarter. IFP Advisors Inc now owns 2,446 shares of the oil and gas company’s stock valued at $126,000 after buying an additional 1,295 shares in the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

NYSE:SUN opened at $57.92 on Tuesday. The firm has a market capitalization of $8.84 billion, a PE ratio of 8.78 and a beta of 1.35. Sunoco LP has a 1 year low of $49.45 and a 1 year high of $60.61. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The firm’s fifty day simple moving average is $57.49 and its 200 day simple moving average is $54.54.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. On average, sell-side analysts anticipate that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.8865 dividend. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.12%. The ex-dividend date was Friday, February 7th. Sunoco’s payout ratio is currently 53.64%.

Analyst Ratings Changes

SUN has been the subject of a number of analyst reports. Mizuho lifted their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Barclays cut their target price on Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sunoco currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

Sunoco Profile

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.