Sunoco LP $SUN Stake Boosted by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC boosted its stake in shares of Sunoco LP (NYSE:SUN) by 34.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 972,935 shares of the oil and gas company’s stock after buying an additional 247,569 shares during the period. Sunoco comprises 4.4% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Infrastructure Capital Advisors LLC’s holdings in Sunoco were worth $63,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Kestra Advisory Services LLC increased its position in shares of Sunoco by 250.4% in the first quarter. Kestra Advisory Services LLC now owns 62,358 shares of the oil and gas company’s stock worth $4,051,000 after acquiring an additional 44,563 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Sunoco by 16.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 126,679 shares of the oil and gas company’s stock valued at $6,639,000 after acquiring an additional 18,123 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Sunoco by 18.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 816,233 shares of the oil and gas company’s stock valued at $53,031,000 after acquiring an additional 126,964 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Sunoco by 19.6% in the 1st quarter. Sanctuary Advisors LLC now owns 154,713 shares of the oil and gas company’s stock valued at $10,052,000 after acquiring an additional 25,403 shares in the last quarter. Finally, Crescent Grove Advisors LLC acquired a new position in Sunoco in the 1st quarter worth approximately $1,746,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Sunoco Price Performance

NYSE SUN opened at $74.33 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 19.01 and a beta of 0.42. The company has a 50 day simple moving average of $68.24 and a 200-day simple moving average of $64.80. Sunoco LP has a 52-week low of $47.98 and a 52-week high of $77.03.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $10.19 billion. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The firm’s revenue was up 106.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 earnings per share. Equities research analysts predict that Sunoco LP will post 7.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, May 21st. Wells Fargo & Company increased their target price on Sunoco from $71.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 target price on shares of Sunoco in a research report on Wednesday, May 6th. Barclays lifted their price target on Sunoco from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised Sunoco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $77.12.

Sunoco Company Profile

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company?owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on?road diesel treated to meet ultra?low sulfur requirements.