Energy Income Partners LLC Has $105.11 Million Stock 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 stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,810,296 shares of the oil and gas company's stock after buying an additional 45,935 shares during the period. 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 approximately 1.19% of Sunoco worth $105,106,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SUN. Virtus Advisers LLC purchased a new position in Sunoco in the 1st quarter valued at about $254,000. Jump Financial LLC bought a new position in shares of Sunoco during the first quarter worth about $312,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sunoco by 110.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the oil and gas company's stock worth $118,000 after purchasing an additional 1,069 shares during the last quarter. CW Advisors LLC bought a new position in shares of Sunoco during the first quarter worth about $1,129,000. Finally, Summit Financial LLC lifted its holdings in Sunoco by 21.9% in the first quarter. Summit Financial LLC now owns 93,180 shares of the oil and gas company's stock worth $5,410,000 after acquiring an additional 16,732 shares during the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Stock Down 0.8%

Shares of NYSE SUN traded down $0.40 during mid-day trading on Friday, reaching $50.80. 271,035 shares of the company traded hands, compared to its average volume of 424,966. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.80 and a current ratio of 1.52. The stock has a market cap of $7.77 billion, a PE ratio of 25.02 and a beta of 0.58. The company's fifty day moving average is $52.87 and its two-hundred day moving average is $54.92. Sunoco LP has a fifty-two week low of $48.00 and a fifty-two week high of $59.88.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) 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 firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the company earned $3.85 earnings per share. The firm's revenue was down 12.7% on a year-over-year basis. On average, analysts expect that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.9088 per share. This represents a $3.64 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Sunoco's previous quarterly dividend of $0.90. Sunoco's payout ratio is 179.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SUN shares. JPMorgan Chase & Co. lifted their price target on Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Mizuho cut their price target on Sunoco from $67.00 to $66.00 and set an "outperform" rating on the stock in a report on Friday, August 29th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $64.50.

About Sunoco

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.