Sunoco LP (NYSE:SUN) Increases Dividend to $1.00 Per Share

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, August 7th will be given a dividend of 1.0023 per share by the oil and gas company on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, August 7th. This is a 1.3% increase from Sunoco’s previous quarterly dividend of $0.99.

Sunoco has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. Sunoco has a dividend payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Sunoco to earn $8.82 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 44.9%.

Sunoco Stock Performance

Sunoco stock opened at $74.33 on Tuesday. Sunoco has a 12-month low of $47.98 and a 12-month high of $77.03. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03. The business’s 50-day moving average price is $68.24 and its two-hundred day moving average price is $64.80. The stock has a market cap of $15.22 billion, a PE ratio of 19.01 and a beta of 0.42.

Sunoco (NYSE:SUN) last issued its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.19 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 106.4% on a year-over-year basis. As a group, analysts expect that Sunoco will post 7.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SUN shares. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price objective on shares of Sunoco in a research report on Wednesday, May 6th. Mizuho set a $83.00 target price on shares of Sunoco in a research note on Friday. Weiss Ratings upgraded shares of Sunoco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Royal Bank Of Canada increased their price target on Sunoco to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Sunoco from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $77.12.

Sunoco Company Profile

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.