Sunoco LP (NYSE:SUN) Announces Quarterly Dividend of $1.00

Key Points

• Sunoco declared a quarterly dividend of $1.0023 per share, payable August 19 to shareholders of record August 7. The payout is 1.3% higher than the previous $0.99 dividend and implies an annualized yield of approximately 5.4%.
• The dividend appears well covered, with a current payout ratio of 70.2% and an expected future payout ratio of 44.9% based on analysts’ projected earnings.
• Sunoco reported quarterly EPS of $2.85, beating estimates of $1.71, while revenue rose 106.4% year over year to $10.69 billion.

Sunoco LP (NYSE:SUN - Get Free Report) declared a quarterly dividend on Monday, July 27th. Shareholders of record on Friday, August 7th will be given a dividend of 1.0023 per share by the oil and gas company on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, August 7th. This is a 1.3% increase from Sunoco's previous quarterly dividend of $0.99.

Sunoco has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. Sunoco has a dividend payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sunoco to earn $8.82 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 44.9%.

Sunoco Stock Performance

NYSE SUN opened at $74.33 on Tuesday. The company has a fifty day moving average of $68.24 and a two-hundred day moving average of $64.80. The company has a market capitalization of $15.22 billion, a PE ratio of 19.01 and a beta of 0.42. Sunoco has a 1 year low of $47.98 and a 1 year high of $77.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92.

Sunoco (NYSE:SUN - Get Free Report) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $1.14. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The firm had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $10.19 billion. During the same period in the prior year, the firm earned $1.21 EPS. The business's revenue was up 106.4% on a year-over-year basis. As a group, analysts expect that Sunoco will post 7.92 earnings per share for the current year.

Sunoco Company Profile

Sunoco LP NYSE: SUN is an independent master limited partnership that specializes in the distribution and marketing of transportation fuels and related products. The company operates through two primary segments: wholesale fuel distribution and retail marketing. In wholesale distribution, Sunoco supplies branded fuels to distributors, commercial customers and resellers across the United States. Its retail marketing arm operates a network of company‐owned and franchised Sunoco branded service stations and convenience stores, providing gasoline, diesel, ethanol blends and lubricants to consumers.

Sunoco's product portfolio extends beyond traditional fuels to include biofuels, specialty chemicals and on‐road diesel treated to meet ultra‐low sulfur requirements.

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