Jennison Associates LLC Acquires Shares of 256,898 Sunoco LP (NYSE:SUN)

Jennison Associates LLC purchased a new position in Sunoco LP (NYSE:SUN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 256,898 shares of the oil and gas company's stock, valued at approximately $15,396,000. Jennison Associates LLC owned 0.26% of Sunoco as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SUN. Good Life Advisors LLC increased its stake in shares of Sunoco by 2.1% in the 4th quarter. Good Life Advisors LLC now owns 8,173 shares of the oil and gas company's stock valued at $490,000 after acquiring an additional 166 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Sunoco by 1.9% in the 4th quarter. Brookstone Capital Management now owns 10,013 shares of the oil and gas company's stock valued at $600,000 after acquiring an additional 184 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Sunoco by 3.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,583 shares of the oil and gas company's stock valued at $574,000 after acquiring an additional 283 shares in the last quarter. Compass Wealth Management LLC increased its stake in shares of Sunoco by 60.0% in the 3rd quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 300 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC increased its stake in Sunoco by 23.1% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 2,368 shares of the oil and gas company's stock valued at $116,000 after purchasing an additional 444 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company's stock.

Insider Transactions at Sunoco

In other news, Director David K. Skidmore bought 1,500 shares of the business's stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $52.10 per share, for a total transaction of $78,150.00. Following the completion of the acquisition, the director now owns 14,608 shares of the company's stock, valued at $761,076.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SUN shares. Wells Fargo & Company upped their price objective on shares of Sunoco from $60.00 to $61.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 20th. Barclays increased their target price on shares of Sunoco from $57.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, January 17th. StockNews.com downgraded shares of Sunoco from a "buy" rating to a "hold" rating in a report on Wednesday, February 14th. Mizuho increased their target price on shares of Sunoco from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Sunoco from $53.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, March 19th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $62.71.

Sunoco Price Performance

SUN traded up $0.32 on Friday, reaching $56.64. The company had a trading volume of 523,104 shares, compared to its average volume of 463,351. The business has a 50 day simple moving average of $59.62 and a 200 day simple moving average of $57.11. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 15.56 and a beta of 1.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. Sunoco LP has a 52-week low of $41.95 and a 52-week high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) EPS for the quarter, missing the consensus estimate of $0.96 by ($2.46). The business had revenue of $5.64 billion for the quarter, compared to analysts' expectations of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The company's revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. As a group, sell-side analysts anticipate that Sunoco LP will post 5.07 EPS for the current year.

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.