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

Sunoco LP (NYSE:SUN - Get Free Report) declared 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 6.77%. The ex-dividend date of this dividend is Friday, August 8th. This is a 1.2% increase from Sunoco's previous quarterly dividend of $0.90.

Sunoco has a dividend payout ratio of 63.7% meaning 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 Price Performance

Sunoco stock traded up $0.21 during trading hours on Monday, hitting $53.72. 439,862 shares of the stock were exchanged, compared to its average volume of 337,303. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.86 and a current ratio of 1.55. The stock has a market capitalization of $8.21 billion, a P/E ratio of 9.68 and a beta of 0.61. Sunoco has a 12 month low of $48.00 and a 12 month high of $59.88. The business's 50-day moving average is $53.61 and its two-hundred day moving average is $55.60.

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

Institutional Investors Weigh In On Sunoco

A hedge fund recently raised its stake in Sunoco stock. Royal Bank of Canada grew its position in Sunoco LP (NYSE:SUN - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,128 shares of the oil and gas company's stock after purchasing an additional 9,592 shares during the period. Royal Bank of Canada owned about 0.10% of Sunoco worth $9,239,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 24.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SUN. Mizuho reduced their price objective on shares of Sunoco from $68.00 to $67.00 and set an "outperform" rating on the stock in a research note on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on shares of Sunoco from $66.00 to $67.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.75.

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.