Energy Income Partners LLC Lowers Stake in Sunoco LP $SUN

Energy Income Partners LLC cut its position in Sunoco LP (NYSE:SUN) by 2.8% in the first quarter, HoldingsChannel.com reports. The firm owned 1,901,251 shares of the oil and gas company’s stock after selling 54,644 shares during the quarter. Sunoco comprises about 2.0% of Energy Income Partners LLC’s investment portfolio, making the stock its 13th biggest holding. Energy Income Partners LLC’s holdings in Sunoco were worth $123,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Advisory Services LLC boosted its holdings in Sunoco by 250.4% in the 1st quarter. Kestra Advisory Services LLC now owns 62,358 shares of the oil and gas company’s stock worth $4,051,000 after buying an additional 44,563 shares during the period. Exchange Traded Concepts LLC grew its holdings in Sunoco by 16.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 126,679 shares of the oil and gas company’s stock valued at $6,639,000 after buying an additional 18,123 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in Sunoco by 18.4% in the first quarter. Miller Howard Investments Inc. NY now owns 816,233 shares of the oil and gas company’s stock worth $53,031,000 after purchasing an additional 126,964 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Sunoco by 19.6% in the 1st quarter. Sanctuary Advisors LLC now owns 154,713 shares of the oil and gas company’s stock worth $10,052,000 after buying an additional 25,403 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC raised its position in Sunoco by 11.9% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 725,366 shares of the oil and gas company’s stock valued at $38,016,000 after purchasing an additional 76,939 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SUN has been the topic of several recent analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 target price 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 report on Wednesday, April 1st. Weiss Ratings raised shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Wells Fargo & Company raised their price objective on shares of Sunoco from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their target price on Sunoco to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $77.12.

Sunoco Trading Down 1.2%

SUN opened at $74.33 on Tuesday. The stock’s fifty day moving average is $68.24 and its two-hundred day moving average is $64.80. The company has a market capitalization of $15.22 billion, a P/E ratio of 19.01 and a beta of 0.42. Sunoco LP has a 52 week low of $47.98 and a 52 week high of $77.03. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03.

Sunoco (NYSE:SUN) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $10.19 billion. During the same period in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up 106.4% compared to the same quarter last year. Analysts forecast that Sunoco LP will post 7.92 earnings per share for the current year.

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.