Energy Income Partners LLC Has $105.11 Million Holdings in Sunoco LP $SUN

Key Points

• Energy Income Partners LLC increased its holdings in Sunoco LP by 2.6%, resulting in ownership of approximately 1.19% of the company, valued at $105.11 million.
• Sunoco recently declared a quarterly dividend of $0.9088 per share, up from $0.90, translating to an annual yield of 7.0%.
• Despite a 12.7% decline in quarterly revenue year-over-year, Sunoco reported earnings per share of $0.33, which fell short of analysts' expectations.

Energy Income Partners LLC grew its position in Sunoco LP (NYSE:SUN - Free Report) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,810,296 shares of the oil and gas company's stock after buying an additional 45,935 shares during the quarter. Sunoco accounts for approximately 2.0% of Energy Income Partners LLC's holdings, making the stock its 14th biggest holding. Energy Income Partners LLC owned 1.19% of Sunoco worth $105,106,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SUN. Alps Advisors Inc. lifted its position in Sunoco by 12.3% during the first quarter. Alps Advisors Inc. now owns 23,132,625 shares of the oil and gas company's stock worth $1,343,080,000 after buying an additional 2,529,170 shares during the period. Invesco Ltd. grew its holdings in Sunoco by 3.3% in the 1st quarter. Invesco Ltd. now owns 9,165,717 shares of the oil and gas company's stock valued at $532,162,000 after buying an additional 296,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sunoco by 5.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,608,701 shares of the oil and gas company's stock valued at $134,192,000 after buying an additional 128,042 shares during the period. Recurrent Investment Advisors LLC grew its holdings in Sunoco by 2.9% in the 4th quarter. Recurrent Investment Advisors LLC now owns 888,862 shares of the oil and gas company's stock valued at $45,723,000 after buying an additional 24,686 shares during the period. Finally, Miller Howard Investments Inc. NY grew its holdings in Sunoco by 15.5% in the 1st quarter. Miller Howard Investments Inc. NY now owns 687,244 shares of the oil and gas company's stock valued at $39,901,000 after buying an additional 92,187 shares during the period. Hedge funds and other institutional investors own 24.29% of the company's stock.

Sunoco Stock Up 0.0%

Shares of SUN traded up $0.02 during midday trading on Wednesday, reaching $51.62. 192,537 shares of the stock were exchanged, compared to its average volume of 387,999. Sunoco LP has a 12-month low of $48.00 and a 12-month high of $59.88. The firm has a 50 day simple moving average of $52.92 and a 200-day simple moving average of $54.96. The company has a quick ratio of 0.80, a current ratio of 1.52 and a debt-to-equity ratio of 1.90. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 25.43 and a beta of 0.58.

Sunoco (NYSE:SUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($1.35). Sunoco had a net margin of 2.02% and a return on equity of 10.57%. The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the business posted $3.85 earnings per share. The firm's revenue was down 12.7% on a year-over-year basis. Research analysts forecast that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.9088 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Sunoco's previous quarterly dividend of $0.90. Sunoco's dividend payout ratio (DPR) is 179.31%.

Analyst Ratings Changes

Several research firms recently commented on SUN. JPMorgan Chase & Co. boosted their price target on Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Mizuho reduced their price objective on Sunoco from $67.00 to $66.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $64.50.

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.