Miller Howard Investments Inc. NY Purchases 5,296 Shares of Sunoco LP (NYSE:SUN)

Miller Howard Investments Inc. NY increased its holdings in shares of Sunoco LP (NYSE:SUN) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 595,057 shares of the oil and gas company’s stock after purchasing an additional 5,296 shares during the period. Miller Howard Investments Inc. NY’s holdings in Sunoco were worth $30,610,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Independence Bank of Kentucky bought a new stake in shares of Sunoco during the 4th quarter worth about $53,000. Kieckhefer Group LLC acquired a new stake in Sunoco during the fourth quarter worth approximately $129,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunoco during the third quarter worth approximately $165,000. World Investment Advisors LLC grew its position in shares of Sunoco by 5.6% in the third quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 200 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in shares of Sunoco by 5.4% during the third quarter. Tyche Wealth Partners LLC now owns 3,905 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SUN. Barclays boosted their price target on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Royal Bank of Canada boosted their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Mizuho raised their price target on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.43.

Sunoco Stock Down 2.7 %

SUN stock opened at $56.31 on Friday. Sunoco LP has a 52 week low of $49.45 and a 52 week high of $64.89. The business has a 50-day simple moving average of $53.91 and a 200 day simple moving average of $53.38. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 1.74. The company has a market cap of $8.58 billion, a PE ratio of 12.94 and a beta of 1.36.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing the consensus estimate of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. Sunoco’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Sell-side analysts anticipate that Sunoco LP will post 9.63 EPS for the current fiscal year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a dividend of $0.8865 per share. This is an increase from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a yield of 6.30%. The ex-dividend date is Friday, February 7th. Sunoco’s payout ratio is currently 80.46%.

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.