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

Jennison Associates LLC purchased a new stake in Sunoco LP (NYSE:SUN) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 256,898 shares of the oil and gas company’s stock, valued at approximately $15,396,000.

Other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Sunoco by 250.0% in the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 500 shares in the last quarter. Compass Wealth Management LLC increased its stake in Sunoco by 60.0% during the third quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Counterpoint Mutual Funds LLC increased its stake in Sunoco by 23.1% during the third quarter. Counterpoint Mutual Funds LLC now owns 2,368 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 444 shares during the last quarter. Bison Wealth LLC acquired a new stake in Sunoco during the fourth quarter worth about $209,000. Finally, True North Advisors LLC purchased a new stake in shares of Sunoco in the fourth quarter worth about $217,000. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

Sunoco Stock Down 0.1 %

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

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts forecast that Sunoco LP will post 5.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus downgraded Sunoco from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research report on Tuesday, February 20th. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price target on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company increased their price target on Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, February 20th. Finally, Citigroup downgraded Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Sunoco presently has a consensus rating of “Hold” and a consensus price target of $62.71.

Insider Activity at Sunoco

In other Sunoco news, Director David K. Skidmore bought 1,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average cost of $52.10 per share, for a total transaction of $78,150.00. Following the transaction, the director now directly owns 14,608 shares in the company, valued at $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.