Miller Howard Investments Inc. NY Has $26.36 Million Holdings in Sunoco LP (NYSE:SUN)

Miller Howard Investments Inc. NY raised its position in shares of Sunoco LP (NYSE:SUN) by 4.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 437,171 shares of the oil and gas company’s stock after purchasing an additional 17,757 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.43% of Sunoco worth $26,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of Sunoco in the 4th quarter worth $27,000. ICA Group Wealth Management LLC bought a new position in shares of Sunoco in the 4th quarter worth $30,000. Allworth Financial LP lifted its holdings in shares of Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 500 shares in the last quarter. Retirement Solution Inc. bought a new position in shares of Sunoco in the 4th quarter worth $200,000. Finally, CWA Asset Management Group LLC bought a new position in shares of Sunoco in the 3rd quarter worth $201,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised shares of Sunoco from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Friday, June 7th. StockNews.com raised shares of Sunoco from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Mizuho raised shares of Sunoco from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $60.00 to $59.00 in a report on Tuesday, June 4th. Barclays assumed coverage on shares of Sunoco in a report on Monday, June 10th. They set an “overweight” rating and a $61.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Sunoco in a report on Wednesday, June 5th. They set an “overweight” rating and a $61.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Sunoco Price Performance

SUN traded up $0.13 during midday trading on Monday, hitting $56.26. The stock had a trading volume of 661,459 shares, compared to its average volume of 585,706. The company has a market cap of $5.67 billion, a P/E ratio of 12.53 and a beta of 1.29. The business has a fifty day moving average of $53.67 and a 200 day moving average of $57.50. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.07 and a current ratio of 1.65. Sunoco LP has a 1 year low of $43.00 and a 1 year high of $64.89.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, May 8th. The oil and gas company reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.13 billion. Sunoco had a return on equity of 35.56% and a net margin of 2.08%. As a group, equities analysts forecast that Sunoco LP will post 6.09 earnings per share for the current fiscal year.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a dividend of $0.876 per share. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Sunoco’s previous quarterly dividend of $0.84. Sunoco’s dividend payout ratio is 77.95%.

Insider Activity

In related news, CEO Joseph Kim acquired 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $50.50 per share, with a total value of $252,500.00. Following the completion of the purchase, the chief executive officer now owns 10,000 shares in the company, valued at approximately $505,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Sunoco news, EVP Brian A. Hand bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $49.59 per share, for a total transaction of $99,180.00. Following the completion of the acquisition, the executive vice president now directly owns 153,255 shares in the company, valued at $7,599,915.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph Kim acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $50.50 per share, with a total value of $252,500.00. Following the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $505,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 9,500 shares of company stock valued at $479,570.

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.