Sunoco LP (NYSE:SUN) to Issue Dividend Increase - $0.92 Per Share

Key Points

• Sunoco LP announced a quarterly dividend increase of $0.92 per share, a 1.3% rise from the previous dividend of $0.91, with an annualized dividend yield of 6.8%.
• The company has a dividend payout ratio of 63.7%, indicating that earnings can sufficiently cover the dividend, with analysts predicting earnings of $11.53 per share next year.
• Sunoco's stock opened at $54.02 and has a market cap of $8.27 billion, with a PE ratio of 26.61.

Sunoco LP (NYSE:SUN - Get Free Report) declared a quarterly dividend on Monday, October 20th. Shareholders of record on Thursday, October 30th will be given a dividend of 0.9202 per share by the oil and gas company on Wednesday, November 19th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Thursday, October 30th. This is a 1.3% increase from Sunoco's previous quarterly dividend of $0.91.

Sunoco has a dividend payout ratio of 63.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.0%

Shares of Sunoco stock opened at $54.02 on Tuesday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.52 and a quick ratio of 0.80. The firm has a fifty day moving average price of $51.05 and a 200 day moving average price of $53.24. Sunoco has a 1 year low of $47.98 and a 1 year high of $59.88. The stock has a market cap of $8.27 billion, a PE ratio of 26.61 and a beta of 0.53.

Sunoco (NYSE:SUN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($1.35). Sunoco had a return on equity of 10.57% and a net margin of 2.02%.The business had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.42 billion. During the same period last year, the business earned $3.85 EPS. The company's revenue for the quarter was down 12.7% on a year-over-year basis. Equities research analysts predict that Sunoco will post 10.65 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.