Sunoco LP (NYSE:SUN - Get Free Report) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Investors of record on Monday, May 13th will be given a dividend of 0.876 per share by the oil and gas company on Monday, May 20th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from Sunoco's previous quarterly dividend of $0.84.
Sunoco has raised its dividend by an average of 0.5% per year over the last three years and has raised its dividend every year for the last 1 years. Sunoco has a payout ratio of 49.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sunoco to earn $4.47 per share next year, which means the company should continue to be able to cover its $3.37 annual dividend with an expected future payout ratio of 75.4%.
Sunoco Stock Performance
NYSE:SUN traded up $0.61 during midday trading on Friday, hitting $55.91. The company's stock had a trading volume of 613,216 shares, compared to its average volume of 664,122. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.40 and a quick ratio of 0.76. Sunoco has a fifty-two week low of $41.95 and a fifty-two week high of $64.89. The firm's 50 day moving average is $58.88 and its 200-day moving average is $57.35. The firm has a market cap of $5.64 billion, a P/E ratio of 15.36 and a beta of 1.29.
Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The firm's revenue was down 4.7% compared to the same quarter last year. Equities analysts anticipate that Sunoco will post 5.07 earnings per share for the current fiscal year.
Insider Activity
In other news, Director David K. Skidmore acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average cost of $52.10 per share, for a total transaction of $78,150.00. Following the acquisition, the director now owns 14,608 shares in the company, valued at approximately $761,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Analyst Ratings Changes
A number of brokerages have recently commented on SUN. Citigroup downgraded Sunoco from a "buy" rating to a "neutral" rating and set a $65.00 target price on the stock. in a research note on Tuesday, February 27th. Raymond James boosted their target price on shares of Sunoco from $55.00 to $65.00 and gave the company an "outperform" rating in a research note on Friday, January 19th. Barclays raised their price target on shares of Sunoco from $57.00 to $64.00 and gave the company an "overweight" rating in a research report on Wednesday, January 17th. StockNews.com downgraded shares of Sunoco from a "buy" rating to a "hold" rating in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus cut Sunoco from a "buy" rating to a "hold" rating and set a $62.00 target price on the stock. in a research report on Tuesday, February 20th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sunoco has a consensus rating of "Hold" and an average price target of $62.71.
Read Our Latest Stock Report on SUN
About Sunoco
(
Get Free Report)
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.
See Also
Before you consider Sunoco, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sunoco wasn't on the list.
While Sunoco currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
