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

Sunoco LP (NYSE:SUN) declared a quarterly dividend on Monday, October 28th, RTT News reports. Investors 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 yield of 6.44%. The ex-dividend date is Friday, November 8th.

Sunoco has increased its dividend payment by an average of 0.5% annually over the last three years. Sunoco has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. 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 Up 2.1 %

Shares of NYSE:SUN opened at $54.36 on Thursday. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 7.19 and a beta of 1.31. The company has a 50 day moving average of $52.87 and a two-hundred day moving average of $53.83. Sunoco has a 52-week low of $49.45 and a 52-week high of $64.89. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Barclays dropped their price target on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Sunoco presently has a consensus rating of “Moderate Buy” and an average 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.