Sunoco LP (NYSE:SUN) Raises Dividend to $0.99 Per Share

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, May 8th will be paid a dividend of 0.9899 per share by the oil and gas company on Wednesday, May 20th. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, May 8th. This is a 6.2% increase from Sunoco’s previous quarterly dividend of $0.93.

Sunoco has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 3 years. Sunoco has a payout ratio of 66.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sunoco to earn $9.70 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 38.4%.

Sunoco Price Performance

Sunoco stock opened at $64.75 on Wednesday. Sunoco has a 52-week low of $47.98 and a 52-week high of $67.82. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 28.52 and a beta of 0.48. The company has a fifty day simple moving average of $63.88 and a 200-day simple moving average of $57.61. The company has a quick ratio of 0.78, a current ratio of 1.38 and a debt-to-equity ratio of 2.06.

Sunoco (NYSE:SUN) last released its earnings results on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $9.65 billion. During the same period in the previous year, the company earned $0.75 EPS. Sunoco’s quarterly revenue was up 63.2% compared to the same quarter last year. On average, equities analysts anticipate that Sunoco will post 7.97 EPS for the current fiscal 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.