Sunoco LP (NYSE:SUN) to Issue Quarterly Dividend of $0.83

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Sunoco LP (NYSE:SUN) declared a quarterly dividend on Friday, October 25th, Fidelity reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.8255 per share by the oil and gas company on Tuesday, November 19th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 9.75%. The ex-dividend date is Monday, November 4th.

Shares of SUN stock opened at $33.87 on Friday. Sunoco has a fifty-two week low of $23.80 and a fifty-two week high of $34.09. The stock has a market cap of $3.31 billion, a P/E ratio of 13.13 and a beta of 0.77. The business has a fifty day simple moving average of $31.90 and a 200-day simple moving average of $31.43. The company has a quick ratio of 0.78, a current ratio of 1.24 and a debt-to-equity ratio of 4.51.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.31). Sunoco had a net margin of 1.21% and a return on equity of 35.57%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Sunoco will post 2.13 earnings per share for the current year.

A number of research analysts have recently weighed in on SUN shares. Stifel Nicolaus set a $34.00 price target on Sunoco and gave the company a “hold” rating in a research report on Monday, August 12th. Mizuho started coverage on Sunoco in a research report on Monday, October 28th. They issued a “buy” rating and a $36.00 price target for the company. ValuEngine cut Sunoco from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. BMO Capital Markets upgraded Sunoco from an “underperform” rating to a “market perform” rating in a research report on Friday, October 18th. Finally, Raymond James lifted their price objective on Sunoco from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.78.

About Sunoco

Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

Read More: What does a hold rating mean?

Dividend History for Sunoco (NYSE:SUN)

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