Neuberger Berman Group LLC Buys 146,621 Shares of Sunoco LP $SUN

Key Points

• Neuberger Berman Group LLC increased its stake in Sunoco LP by 29.4%, acquiring an additional 146,621 shares, bringing its total holdings to 644,512 shares valued at approximately $37.4 million.
• Sunoco recently declared a quarterly dividend of $0.9088, an increase from the previous dividend of $0.90, representing an annualized dividend yield of 6.9%.
• Despite reporting a quarterly earnings miss with earnings per share of $0.33, Sunoco's revenue was $5.39 billion, which fell short of analysts' expectations of $5.42 billion.

Neuberger Berman Group LLC raised its stake in shares of Sunoco LP (NYSE:SUN - Free Report) by 29.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 644,512 shares of the oil and gas company's stock after buying an additional 146,621 shares during the period. Neuberger Berman Group LLC owned about 0.42% of Sunoco worth $37,420,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Sunoco during the 4th quarter valued at $31,000. Transce3nd LLC acquired a new stake in shares of Sunoco in the 4th quarter valued at $90,000. State of Wyoming acquired a new stake in shares of Sunoco in the 4th quarter valued at $102,000. IFP Advisors Inc lifted its stake in shares of Sunoco by 17.1% in the 1st quarter. IFP Advisors Inc now owns 2,865 shares of the oil and gas company's stock valued at $166,000 after purchasing an additional 419 shares during the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Sunoco in the 4th quarter valued at $200,000. Institutional investors and hedge funds own 24.29% of the company's stock.

Sunoco Stock Performance

SUN traded up $0.77 during trading on Monday, hitting $53.20. The stock had a trading volume of 465,728 shares, compared to its average volume of 432,992. The firm has a market cap of $8.14 billion, a PE ratio of 26.20 and a beta of 0.60. Sunoco LP has a 12 month low of $48.00 and a 12 month high of $59.88. The company has a current ratio of 1.52, a quick ratio of 0.80 and a debt-to-equity ratio of 1.90. The company has a 50 day simple moving average of $53.17 and a 200-day simple moving average of $55.42.

Sunoco (NYSE:SUN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 EPS for the quarter, missing the consensus estimate of $1.68 by ($1.35). The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.42 billion. Sunoco had a return on equity of 10.57% and a net margin of 2.02%. The business's revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.85 EPS. Analysts expect that Sunoco LP will post 10.65 EPS for the current year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.9088 per share. This represents a $3.64 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, August 8th. This is a positive change from Sunoco's previous quarterly dividend of $0.90. Sunoco's payout ratio is presently 179.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho reduced their price objective on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd.

Sunoco Company 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.