Infrastructure Capital Advisors LLC Has $63.21 Million Stock Position in Sunoco LP $SUN

Infrastructure Capital Advisors LLC grew its holdings in shares of Sunoco LP (NYSE:SUN) by 34.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 972,935 shares of the oil and gas company’s stock after purchasing an additional 247,569 shares during the period. Sunoco makes up approximately 4.4% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Infrastructure Capital Advisors LLC owned 0.48% of Sunoco worth $63,212,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SUN. Alps Advisors Inc. grew its position in Sunoco by 3.2% in the 4th quarter. Alps Advisors Inc. now owns 24,856,265 shares of the oil and gas company’s stock valued at $1,302,717,000 after buying an additional 766,781 shares in the last quarter. Energy Income Partners LLC lifted its stake in shares of Sunoco by 1.7% in the 3rd quarter. Energy Income Partners LLC now owns 1,916,858 shares of the oil and gas company’s stock worth $95,862,000 after acquiring an additional 32,866 shares during the period. Morgan Stanley boosted its holdings in shares of Sunoco by 60.5% in the fourth quarter. Morgan Stanley now owns 1,639,420 shares of the oil and gas company’s stock valued at $85,922,000 after acquiring an additional 617,700 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Sunoco by 266.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,626,278 shares of the oil and gas company’s stock valued at $85,233,000 after acquiring an additional 1,182,662 shares in the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Sunoco by 18.4% during the first 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 during the period. 24.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research raised Sunoco from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 1st. Barclays increased their price target on Sunoco from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada lifted their price target on Sunoco to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 price objective on shares of Sunoco in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Sunoco from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $77.12.

Sunoco Stock Down 1.2%

SUN stock opened at $74.33 on Tuesday. Sunoco LP has a 12 month low of $47.98 and a 12 month high of $77.03. The firm has a market cap of $15.22 billion, a PE ratio of 19.01 and a beta of 0.42. The firm has a 50 day simple moving average of $68.24 and a 200 day simple moving average of $64.80. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92.

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

Sunoco 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.