Short Interest in Sunoco LP (NYSE:SUN) Declines By 17.6%

Sunoco LP (NYSE:SUN) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,970,000 shares, a decrease of 17.6% from the February 13th total of 2,390,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 503,800 shares, the short-interest ratio is presently 3.9 days.

Sunoco Stock Down 1.1 %

Shares of NYSE:SUN traded down $0.67 during midday trading on Thursday, hitting $57.85. 52,550 shares of the company’s stock traded hands, compared to its average volume of 489,371. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 1.27. The company has a market cap of $8.83 billion, a PE ratio of 8.77 and a beta of 1.35. The firm’s fifty day moving average price is $56.75 and its two-hundred day moving average price is $54.24. Sunoco has a twelve month low of $49.45 and a twelve month high of $62.55.

Sunoco (NYSE:SUN) last posted its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a net margin of 3.85% and a return on equity of 22.52%. On average, equities research analysts anticipate that Sunoco will post 10.65 EPS for the current fiscal year.

Sunoco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.8865 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date was Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88. Sunoco’s dividend payout ratio is currently 53.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SUN shares. Royal Bank of Canada increased their price target on shares of Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Mizuho increased their price target on shares of Sunoco from $61.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Barclays increased their price target on shares of Sunoco from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Sunoco by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 2,191,570 shares of the oil and gas company’s stock valued at $117,644,000 after acquiring an additional 455,361 shares during the period. Barclays PLC boosted its holdings in shares of Sunoco by 908,833.3% during the 3rd quarter. Barclays PLC now owns 436,288 shares of the oil and gas company’s stock worth $23,419,000 after buying an additional 436,240 shares during the period. ING Groep NV boosted its holdings in shares of Sunoco by 223.7% during the 4th quarter. ING Groep NV now owns 513,715 shares of the oil and gas company’s stock worth $26,426,000 after buying an additional 355,000 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Sunoco during the 4th quarter worth $17,739,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Sunoco by 32,166.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 231,351 shares of the oil and gas company’s stock worth $12,137,000 after buying an additional 230,634 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

About Sunoco

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.