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

Sunoco LP (NYSE:SUN) 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 5.96%. The ex-dividend date is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88.

Sunoco has raised its dividend by an average of 1.7% per year over the last three years. Sunoco has a dividend payout ratio of 50.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sunoco to earn $10.99 per share next year, which means the company should continue to be able to cover its $3.55 annual dividend with an expected future payout ratio of 32.3%.

Sunoco Stock Performance

Shares of SUN opened at $59.55 on Wednesday. Sunoco has a 52 week low of $49.45 and a 52 week high of $64.89. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 1.16. The company has a market capitalization of $9.08 billion, a PE ratio of 13.69 and a beta of 1.36. The company’s 50 day moving average price is $53.75 and its 200 day moving average price is $53.34.

Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79). The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. Research analysts expect that Sunoco will post 9.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SUN. Mizuho raised their price objective on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday. Barclays boosted their price objective on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada raised their target price on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.43.

Sunoco Company Profile

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.