Sunoco LP (SUN) Stake Held by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. maintained its position in Sunoco LP (NYSE:SUN) during the second quarter, Holdings Channel reports. The firm owned 758,000 shares of the oil and gas company’s stock at the end of the second quarter. Duff & Phelps Investment Management Co.’s holdings in Sunoco were worth $23,202,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE increased its position in Sunoco by 82.4% in the first quarter. Bank of America Corp DE now owns 1,852,879 shares of the oil and gas company’s stock worth $44,784,000 after buying an additional 836,902 shares during the period. JPMorgan Chase & Co. increased its position in Sunoco by 534.9% in the first quarter. JPMorgan Chase & Co. now owns 461,671 shares of the oil and gas company’s stock worth $11,158,000 after buying an additional 388,951 shares during the period. Bank of Montreal Can acquired a new position in Sunoco during the second quarter worth approximately $10,986,000. OppenheimerFunds Inc. increased its position in Sunoco by 1.0% in the first quarter. OppenheimerFunds Inc. now owns 13,386,079 shares of the oil and gas company’s stock worth $323,542,000 after buying an additional 129,040 shares during the period. Finally, Van ECK Associates Corp increased its position in Sunoco by 55.8% in the first quarter. Van ECK Associates Corp now owns 175,455 shares of the oil and gas company’s stock worth $4,241,000 after buying an additional 62,846 shares during the period. 27.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sunoco LP (SUN) opened at 31.02 on Friday. Sunoco LP has a 1-year low of $21.01 and a 1-year high of $32.67. The company has a 50-day moving average of $30.99 and a 200-day moving average of $28.91. The firm’s market capitalization is $3.09 billion.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, August 7th will be issued a $0.8255 dividend. This represents a $3.30 annualized dividend and a dividend yield of 10.64%. The ex-dividend date is Thursday, August 3rd. Sunoco’s payout ratio is currently -37.37%.
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A number of research analysts have commented on SUN shares. TheStreet raised shares of Sunoco from a “d+” rating to a “c-” rating in a research report on Wednesday, April 26th. Citigroup Inc. upgraded shares of Sunoco from a “sell” rating to a “neutral” rating and raised their price target for the company from $22.00 to $29.00 in a report on Tuesday, April 25th. Vetr upgraded shares of Sunoco from a “hold” rating to a “buy” rating and set a $30.54 price target on the stock in a report on Wednesday, May 3rd. Deutsche Bank AG upgraded shares of Sunoco from a “hold” rating to a “buy” rating and raised their price target for the company from $31.00 to $36.00 in a report on Thursday, July 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price target on shares of Sunoco in a report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Sunoco presently has a consensus rating of “Hold” and an average target price of $31.04.
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.
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