Envestnet Asset Management Inc. Raises Position in Sunoco LP (SUN)

Envestnet Asset Management Inc. boosted its stake in Sunoco LP (NYSE:SUN) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,615 shares of the oil and gas company’s stock after buying an additional 133 shares during the period. Envestnet Asset Management Inc.’s holdings in Sunoco were worth $312,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SUN. Duff & Phelps Investment Management Co. boosted its position in shares of Sunoco by 166.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 813,000 shares of the oil and gas company’s stock valued at $23,585,000 after buying an additional 508,000 shares in the last quarter. BP Capital Fund Advisors LLC boosted its position in shares of Sunoco by 23.6% in the third quarter. BP Capital Fund Advisors LLC now owns 408,859 shares of the oil and gas company’s stock valued at $11,861,000 after buying an additional 78,007 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of Sunoco by 5.0% in the third quarter. Evergreen Capital Management LLC now owns 239,070 shares of the oil and gas company’s stock valued at $6,935,000 after buying an additional 11,395 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Sunoco by 13.9% in the third quarter. Global X Management Co. LLC now owns 216,086 shares of the oil and gas company’s stock valued at $6,269,000 after buying an additional 26,347 shares in the last quarter. Finally, ELCO Management Co. LLC bought a new position in Sunoco during the third quarter worth $5,646,000. 37.50% of the stock is owned by hedge funds and other institutional investors.

Sunoco LP (NYSE:SUN) remained flat at $30.22 on Friday. The stock had a trading volume of 502,000 shares. The stock’s market cap is $3.47 billion. Sunoco LP has a 12-month low of $21.01 and a 12-month high of $37.25. The stock has a 50-day moving average of $25.97 and a 200 day moving average of $26.49.

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SUN has been the subject of a number of analyst reports. Vetr cut Sunoco from a “hold” rating to a “sell” rating and set a $26.44 price target for the company. in a report on Wednesday, February 22nd. FBR & Co reaffirmed a “buy” rating on shares of Sunoco in a research report on Thursday, January 19th. Mizuho reaffirmed a “neutral” rating on shares of Sunoco in a research report on Monday, December 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Sunoco in a research report on Friday, December 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $30.43.

About Sunoco

Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.