Sunoco LP (NYSE:SUN) Short Interest Update
Sunoco LP (NYSE:SUN) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 1,185,700 shares, a growth of 6.6% from the June 15th total of 1,112,300 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 232,800 shares, the short-interest ratio is currently 5.1 days.
A number of brokerages have issued reports on SUN. Zacks Investment Research raised Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Monday, April 29th. Barclays set a €45.00 ($52.33) price target on Zalando and gave the company a “buy” rating in a research note on Tuesday, April 16th. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of Sunoco in a research note on Thursday, May 9th. TheStreet cut Trade Desk from a “b-” rating to a “c-” rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus set a $36.00 price target on IntriCon and gave the company a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Sunoco currently has a consensus rating of “Hold” and a consensus price target of $30.67.
Shares of SUN stock traded up $0.10 on Friday, hitting $33.83. The company had a trading volume of 179,620 shares, compared to its average volume of 265,245. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 13.11 and a beta of 0.77. The company’s 50-day moving average price is $31.96. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.81 and a current ratio of 1.32. Sunoco has a twelve month low of $23.80 and a twelve month high of $33.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be given a dividend of $0.8255 per share. This represents a $3.30 annualized dividend and a dividend yield of 9.76%. Sunoco’s payout ratio is 127.91%.
Several institutional investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. boosted its position in shares of Sunoco by 3.1% during the 1st quarter. OppenheimerFunds Inc. now owns 15,627,067 shares of the oil and gas company’s stock valued at $486,940,000 after purchasing an additional 463,585 shares in the last quarter. BlackRock Inc. boosted its position in shares of Sunoco by 53.2% during the 4th quarter. BlackRock Inc. now owns 575,604 shares of the oil and gas company’s stock valued at $15,651,000 after purchasing an additional 200,000 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Sunoco by 158.9% during the 1st quarter. Bank of Montreal Can now owns 433,596 shares of the oil and gas company’s stock valued at $13,511,000 after purchasing an additional 266,134 shares in the last quarter. Adams Asset Advisors LLC boosted its position in shares of Sunoco by 0.7% during the 2nd quarter. Adams Asset Advisors LLC now owns 235,096 shares of the oil and gas company’s stock valued at $7,353,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Sunoco during the 1st quarter valued at about $3,745,000. Institutional investors own 28.86% of the company’s stock.
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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