Sunoco LP (NYSE:SUN) Increases Dividend to $0.89 Per Share

Sunoco LP (NYSE:SUN) declared 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 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Friday, February 7th. This is an increase from Sunoco’s previous quarterly dividend of $0.88.

Sunoco has increased its dividend payment by an average of 1.7% per year over the last three years. Sunoco has a payout ratio of 42.0% indicating that 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 0.0 %

SUN opened at $55.82 on Tuesday. Sunoco has a 12 month low of $49.45 and a 12 month high of $64.89. The company has a market cap of $8.51 billion, a PE ratio of 12.83 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a 50 day moving average of $53.38 and a 200 day moving average of $53.37.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Sunoco will post 6.87 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on SUN shares. Barclays raised their price target on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sunoco has a consensus rating of “Moderate Buy” and a consensus target price of $62.43.

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.