Sunoco LP Announces Quarterly Dividend of $0.88 (NYSE:SUN)

Sunoco LP (NYSE:SUN - Get Free Report) declared a quarterly dividend on Monday, October 28th, RTT News reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.8756 per share by the oil and gas company on Tuesday, November 19th. This represents a $3.50 annualized dividend and a dividend yield of 6.76%.

Sunoco has raised its dividend by an average of 0.5% annually over the last three years. Sunoco has a dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sunoco to earn $6.76 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 51.8%.

Sunoco Stock Performance

Shares of SUN stock traded down $0.37 during trading on Monday, hitting $51.84. The company's stock had a trading volume of 269,831 shares, compared to its average volume of 522,899. The company has a market cap of $7.90 billion, a PE ratio of 6.91 and a beta of 1.30. The company has a current ratio of 1.26, a quick ratio of 0.72 and a debt-to-equity ratio of 1.69. The business has a fifty day moving average of $53.13 and a 200-day moving average of $53.92. Sunoco has a 52 week low of $49.00 and a 52 week high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $3.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $2.62. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period last year, the business posted $0.78 earnings per share. The business's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts anticipate that Sunoco will post 8.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com cut Sunoco from a "buy" rating to a "hold" rating in a research report on Thursday, August 8th. Barclays reduced their price target on Sunoco from $61.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Sunoco from $61.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their price target on Sunoco from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.25.

About Sunoco

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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