Sunoco LP (SUN) to Issue Quarterly Dividend of $0.99 on May 20th

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Tuesday, April 21st. Stockholders of record on Friday, May 8th will be paid a dividend of 0.9899 per share by the oil and gas company on Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, May 8th. This is a 6.2% increase from Sunoco’s previous quarterly dividend of $0.93.

Sunoco has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 3 years. Sunoco has a payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sunoco to earn $9.32 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 42.5%.

Sunoco Stock Up 2.2%

Shares of NYSE:SUN opened at $69.78 on Wednesday. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 30.74 and a beta of 0.46. Sunoco has a 12 month low of $47.98 and a 12 month high of $70.00. The company has a current ratio of 1.38, a quick ratio of 0.78 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average price of $64.97 and a 200 day moving average price of $58.56.

Sunoco (NYSE:SUN) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The company had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 106.4% on a year-over-year basis. As a group, equities research analysts predict that Sunoco will post 7.83 earnings per share for the current year.

About Sunoco

Sunoco LP (NYSE: SUN) is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco’s product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.