Neuberger Berman Group LLC Has $25.61 Million Position in Sunoco LP (NYSE:SUN)

Neuberger Berman Group LLC increased its stake in shares of Sunoco LP (NYSE:SUN) by 63.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 497,891 shares of the oil and gas company’s stock after buying an additional 193,278 shares during the quarter. Neuberger Berman Group LLC’s holdings in Sunoco were worth $25,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Sunoco during the fourth quarter worth $17,739,000. ELCO Management Co. LLC grew its position in Sunoco by 44.4% during the 4th quarter. ELCO Management Co. LLC now owns 34,790 shares of the oil and gas company’s stock worth $1,790,000 after acquiring an additional 10,695 shares during the last quarter. Texas Yale Capital Corp. increased its holdings in Sunoco by 3.1% in the 4th quarter. Texas Yale Capital Corp. now owns 70,076 shares of the oil and gas company’s stock worth $3,605,000 after purchasing an additional 2,100 shares in the last quarter. Greenland Capital Management LP bought a new position in Sunoco in the fourth quarter valued at about $526,000. Finally, Invesco Ltd. boosted its stake in shares of Sunoco by 2.3% during the fourth quarter. Invesco Ltd. now owns 8,868,926 shares of the oil and gas company’s stock valued at $456,218,000 after purchasing an additional 198,859 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.

Sunoco Stock Performance

NYSE:SUN opened at $51.75 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. Sunoco LP has a fifty-two week low of $48.00 and a fifty-two week high of $59.67. The company has a 50 day simple moving average of $57.03 and a two-hundred day simple moving average of $54.53. The company has a market capitalization of $7.90 billion, a PE ratio of 7.84 and a beta of 1.06.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 22.52% and a net margin of 3.85%. Research analysts anticipate that Sunoco LP will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.8865 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a dividend yield of 6.85%. Sunoco’s dividend payout ratio (DPR) is 53.64%.

Analyst Upgrades and Downgrades

SUN has been the subject of a number of research reports. Mizuho raised their price objective on shares of Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, April 3rd. Barclays dropped their price target on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.83.

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.