Sunoco LP (NYSE:SUN) Announces Quarterly Dividend of $0.91

Sunoco LP (NYSE:SUN - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Friday, August 8th will be given a dividend of 0.9088 per share by the oil and gas company on Tuesday, August 19th. This represents a $3.64 annualized dividend and a yield of 6.80%. This is a 1.2% increase from Sunoco's previous quarterly dividend of $0.90.

Sunoco has a payout ratio of 63.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sunoco to earn $11.53 per share next year, which means the company should continue to be able to cover its $3.59 annual dividend with an expected future payout ratio of 31.1%.

Sunoco Stock Up 1.7%

NYSE SUN traded up $0.89 during mid-day trading on Thursday, hitting $53.46. The company's stock had a trading volume of 373,065 shares, compared to its average volume of 440,154. The company's 50 day simple moving average is $53.81 and its 200 day simple moving average is $55.52. Sunoco has a twelve month low of $48.00 and a twelve month high of $59.88. The company has a current ratio of 1.55, a quick ratio of 0.86 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 9.63 and a beta of 0.61.

Sunoco (NYSE:SUN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.48). Sunoco had a net margin of 3.80% and a return on equity of 20.34%. The business had revenue of $5.18 billion during the quarter, compared to analysts' expectations of $5.58 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. The firm's quarterly revenue was down 5.8% on a year-over-year basis. Analysts anticipate that Sunoco will post 10.65 earnings per share for the current year.

Hedge Funds Weigh In On Sunoco

An institutional investor recently raised its position in Sunoco stock. Royal Bank of Canada grew its holdings in Sunoco LP (NYSE:SUN - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 159,128 shares of the oil and gas company's stock after acquiring an additional 9,592 shares during the quarter. Royal Bank of Canada owned about 0.10% of Sunoco worth $9,239,000 at the end of the most recent reporting period. 24.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho cut their target price on Sunoco from $68.00 to $67.00 and set an "outperform" rating for the company in a research note on Monday, July 14th. Barclays reduced their price target on Sunoco from $62.00 to $61.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Sunoco from $66.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Sunoco has a consensus rating of "Moderate Buy" and a consensus price target of $64.75.

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.

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