Sunoco LP (NYSE:SUN) Sees Large Growth in Short Interest

Sunoco LP (NYSE:SUN) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,640,000 shares, an increase of 68.2% from the January 15th total of 1,570,000 shares. Based on an average daily volume of 499,500 shares, the short-interest ratio is presently 5.3 days.

Sunoco Trading Down 0.3 %

SUN traded down $0.20 during trading on Friday, hitting $57.15. 413,740 shares of the stock traded hands, compared to its average volume of 638,897. The firm has a market capitalization of $8.71 billion, a P/E ratio of 13.14 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.16 and a quick ratio of 0.66. The firm has a 50-day moving average of $54.06 and a 200 day moving average of $53.47. Sunoco has a 12-month low of $49.45 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last posted its earnings results on Tuesday, February 11th. The oil and gas company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.73). Sunoco had a return on equity of 19.77% and a net margin of 2.72%. Equities research analysts anticipate that Sunoco will post 9.63 EPS for the current year.

Sunoco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.8865 dividend. This represents a $3.55 annualized dividend and a dividend yield of 6.20%. This is a boost from Sunoco’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is currently 80.46%.

Institutional Investors Weigh In On Sunoco

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Sunoco in the 4th quarter worth about $31,000. Independence Bank of Kentucky bought a new position in shares of Sunoco in the 4th quarter worth about $53,000. Steward Partners Investment Advisory LLC increased its stake in shares of Sunoco by 17.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 182 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Sunoco by 93.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,633 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 788 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Sunoco by 90.6% in the 4th quarter. Allworth Financial LP now owns 1,723 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 819 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SUN. Royal Bank of Canada increased their target price on shares of Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Mizuho increased their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Barclays increased their target price on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and an average price target of $63.43.

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.