Sunoco LP (NYSE:SUN) to Issue Quarterly Dividend of $1.01

Sunoco LP (NYSE:SUN) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 6th will be given a dividend of $1.0148 per share by the oil and gas company on Thursday, November 19th. This represents a $4.06 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, November 6th. This is a 1.2% increase from Sunoco’s previous quarterly dividend of $1.0023.

Sunoco has a dividend payout ratio of 70.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sunoco to earn $10.61 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 37.7%.

Sunoco Stock Down 0.6%

Shares of NYSE SUN opened at $72.99 on Friday. Sunoco has a one year low of $49.98 and a one year high of $80.22. The company’s fifty day moving average is $75.27 and its two-hundred day moving average is $70.99. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.83 and a current ratio of 1.29.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($1.56). The company had revenue of $14.26 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Sunoco had a net margin of 2.88% and a return on equity of 18.78%. The business’s revenue for the quarter was up 164.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, equities analysts forecast that Sunoco will post 9.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SUN. Mizuho set a $83.00 target price on shares of Sunoco in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Sunoco in a research note on Tuesday, August 18th. Citigroup upped their price target on Sunoco from $73.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on Sunoco in a research note on Tuesday. They issued an “overweight” rating and a $87.00 price objective for the company. Finally, Wall Street Zen cut Sunoco from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $79.75.

Sunoco Company Profile

Sunoco LP (NYSE:SUN) is a master limited partnership focused primarily on the distribution and wholesale marketing of motor fuels. The company supplies gasoline, diesel and other refined products to independent fuel retailers, commercial customers, distributors and other end users, including customers operating under the Sunoco brand.

Sunoco’s operations include fuel terminals, pipelines, transportation assets and other logistics infrastructure used to receive, store, blend and deliver petroleum products.