Sunoco LP (NYSE:SUN) Declares Quarterly Dividend of $0.89

Sunoco LP (NYSE:SUNGet Free Report) announced a quarterly dividend on Monday, January 27th,NASDAQ Dividends reports. Stockholders of record on Friday, February 7th will be given a dividend of 0.8865 per share by the oil and gas company on Wednesday, February 19th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Sunoco’s previous quarterly dividend of $0.88.

Sunoco has raised its dividend by an average of 1.7% annually over the last three years. Sunoco has a dividend payout ratio of 42.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sunoco to earn $10.99 per share next year, which means the company should continue to be able to cover its $3.50 annual dividend with an expected future payout ratio of 31.8%.

Sunoco Stock Up 0.7 %

Shares of SUN stock opened at $56.19 on Wednesday. The stock’s 50 day simple moving average is $53.42 and its 200 day simple moving average is $53.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 12.92 and a beta of 1.36.

Sunoco (NYSE:SUNGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the business posted $2.95 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. As a group, research analysts predict that Sunoco will post 6.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SUN. Royal Bank of Canada raised their price objective on Sunoco from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Barclays raised their price objective on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.43.

Read Our Latest Stock Report on SUN

About Sunoco

(Get Free Report)

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.

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Dividend History for Sunoco (NYSE:SUN)

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