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

Jennison Associates LLC acquired a new stake in shares of Sunoco LP (NYSE:SUN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 256,898 shares of the oil and gas company’s stock, valued at approximately $15,396,000. Jennison Associates LLC owned approximately 0.26% of Sunoco at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SUN. International Assets Investment Management LLC raised its stake in shares of Sunoco by 6,075.4% in the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock valued at $34,419,000 after acquiring an additional 565,015 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in Sunoco by 19.6% during the 4th quarter. Miller Howard Investments Inc. NY now owns 419,414 shares of the oil and gas company’s stock worth $25,135,000 after acquiring an additional 68,627 shares during the period. Recurrent Investment Advisors LLC raised its position in shares of Sunoco by 12.3% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 184,308 shares of the oil and gas company’s stock valued at $9,022,000 after acquiring an additional 20,206 shares during the last quarter. ING Groep NV raised its position in shares of Sunoco by 138.3% during the 3rd quarter. ING Groep NV now owns 172,300 shares of the oil and gas company’s stock valued at $8,434,000 after acquiring an additional 100,000 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Sunoco by 5.1% in the 3rd quarter. LPL Financial LLC now owns 152,429 shares of the oil and gas company’s stock valued at $7,461,000 after purchasing an additional 7,383 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SUN has been the topic of several recent analyst reports. Stifel Nicolaus lowered shares of Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Tuesday, February 20th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Mizuho lifted their price target on shares of Sunoco from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Raymond James boosted their price objective on shares of Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 20th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $62.71.

Sunoco Stock Down 0.1 %

Sunoco stock opened at $56.32 on Friday. The firm has a market capitalization of $5.68 billion, a PE ratio of 15.47 and a beta of 1.27. The company’s 50-day moving average is $59.74 and its 200-day moving average is $57.11. Sunoco LP has a fifty-two week low of $41.95 and a fifty-two week high of $64.89. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.40 and a quick ratio of 0.76.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of $0.96 by ($2.46). The firm had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.42 billion. Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts anticipate that Sunoco LP will post 5.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David K. Skidmore bought 1,500 shares of Sunoco stock in a transaction that occurred on Wednesday, April 17th. The stock was acquired at an average price of $52.10 per share, with a total value of $78,150.00. Following the acquisition, the director now owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.