Sunoco LP (NYSE:SUN) Short Interest Down 14.2% in April

Sunoco LP (NYSE:SUN - Get Free Report) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,630,000 shares, a decrease of 14.2% from the March 31st total of 1,900,000 shares. Based on an average daily trading volume, of 476,500 shares, the days-to-cover ratio is presently 3.4 days. Approximately 1.1% of the company's stock are short sold.

Sunoco Stock Performance

Shares of Sunoco stock traded down $3.29 on Monday, reaching $54.66. 2,009,557 shares of the company traded hands, compared to its average volume of 492,016. The company has a 50 day moving average of $56.90 and a 200 day moving average of $55.04. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.27 and a quick ratio of 0.66. Sunoco has a 52 week low of $48.00 and a 52 week high of $59.88. The firm has a market capitalization of $8.34 billion, a PE ratio of 8.28 and a beta of 1.06.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings data 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%. Equities analysts forecast that Sunoco will post 10.65 earnings per share for the current year.

Sunoco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be paid a $0.8976 dividend. This is a boost from Sunoco's previous quarterly dividend of $0.89. This represents a $3.59 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Friday, May 9th. Sunoco's payout ratio is currently 54.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $63.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Mizuho boosted their price target on shares of Sunoco from $66.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday, April 3rd. Finally, Barclays cut their target price on Sunoco from $62.00 to $61.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Sunoco presently has an average rating of "Moderate Buy" and a consensus target price of $64.33.

Hedge Funds Weigh In On Sunoco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Sunoco by 17.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the oil and gas company's stock valued at $64,000 after buying an additional 182 shares in the last quarter. World Investment Advisors LLC raised its holdings in Sunoco by 5.6% during the 3rd quarter. World Investment Advisors LLC now owns 3,800 shares of the oil and gas company's stock valued at $204,000 after acquiring an additional 200 shares during the period. International Assets Investment Management LLC lifted its position in shares of Sunoco by 1.9% during the first quarter. International Assets Investment Management LLC now owns 11,252 shares of the oil and gas company's stock worth $653,000 after acquiring an additional 208 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Sunoco by 6.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,256 shares of the oil and gas company's stock worth $219,000 after acquiring an additional 247 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in shares of Sunoco by 2.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 9,464 shares of the oil and gas company's stock valued at $487,000 after purchasing an additional 251 shares in the last quarter. Institutional investors own 24.29% of the company's stock.

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.