Sunoco LP (NYSE:SUN) Short Interest Up 7.0% in November

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Sunoco LP (NYSE:SUN) was the target of a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 1,230,000 shares, a growth of 7.0% from the November 14th total of 1,150,000 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 213,700 shares, the short-interest ratio is currently 5.8 days.

Sunoco stock traded up $0.47 during trading hours on Friday, reaching $30.68. 287,565 shares of the company’s stock were exchanged, compared to its average volume of 236,026. The company has a quick ratio of 0.69, a current ratio of 1.21 and a debt-to-equity ratio of 4.70. The firm’s 50 day simple moving average is $31.66 and its 200 day simple moving average is $31.60. Sunoco has a twelve month low of $23.80 and a twelve month high of $34.09. The firm has a market capitalization of $2.98 billion, a PE ratio of 11.89 and a beta of 0.78.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.24). Sunoco had a return on equity of 31.52% and a net margin of 0.96%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. Analysts anticipate that Sunoco will post 2.22 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.8255 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $3.30 annualized dividend and a dividend yield of 10.76%. Sunoco’s dividend payout ratio is presently 127.91%.

In related news, insider Machell Simon acquired 6,305 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was acquired at an average cost of $13.45 per share, for a total transaction of $84,802.25. Also, insider Arnold Dodderer sold 5,711 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $30.16, for a total value of $172,243.76. Following the completion of the sale, the insider now owns 46,787 shares of the company’s stock, valued at $1,411,095.92. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently modified their holdings of SUN. Commonwealth Equity Services LLC grew its stake in shares of Sunoco by 15.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,141 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 1,204 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Sunoco in the 2nd quarter valued at about $41,000. SG Americas Securities LLC acquired a new stake in shares of Sunoco in the 2nd quarter valued at about $727,000. Janney Montgomery Scott LLC acquired a new stake in shares of Sunoco in the 2nd quarter valued at about $203,000. Finally, Advisor Group Inc. grew its stake in shares of Sunoco by 4.6% in the 2nd quarter. Advisor Group Inc. now owns 9,493 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 414 shares during the period. Institutional investors own 28.29% of the company’s stock.

SUN has been the subject of a number of recent research reports. ValuEngine upgraded Sunoco from a “strong sell” rating to a “sell” rating in a report on Wednesday. Barclays set a $33.00 price target on Sunoco and gave the stock a “hold” rating in a report on Tuesday, October 15th. Raymond James increased their price target on Sunoco from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets upgraded Sunoco from an “underperform” rating to a “market perform” rating in a report on Friday, October 18th. Finally, Mizuho started coverage on Sunoco in a report on Monday, October 28th. They set a “buy” rating and a $36.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.88.

Sunoco Company Profile

Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

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