Sunoco LP (NYSE:SUN - Get Rating) declared a quarterly dividend on Tuesday, October 25th, RTT News reports. Shareholders of record on Friday, November 4th will be paid a dividend of 0.8255 per share by the oil and gas company on Friday, November 18th. This represents a $3.30 annualized dividend and a yield of 7.84%.
Sunoco has a dividend payout ratio of 80.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Sunoco to earn $4.23 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 78.0%.
Shares of NYSE SUN traded up $0.72 during mid-day trading on Tuesday, reaching $42.10. 182,571 shares of the company were exchanged, compared to its average volume of 283,781. Sunoco has a 52 week low of $34.26 and a 52 week high of $46.95. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 3.61. The stock has a market capitalization of $4.22 billion, a PE ratio of 7.71 and a beta of 1.39. The company's 50 day moving average price is $39.87 and its 200 day moving average price is $39.94.
Sunoco (NYSE:SUN - Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The oil and gas company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.06. Sunoco had a net margin of 2.36% and a return on equity of 61.22%. The company had revenue of $7.82 billion during the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the previous year, the firm posted $1.73 EPS. The firm's revenue was up 77.9% compared to the same quarter last year. Sell-side analysts forecast that Sunoco will post 6.06 earnings per share for the current fiscal year.
SUN has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of Sunoco from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. StockNews.com started coverage on shares of Sunoco in a report on Wednesday, October 12th. They set a "buy" rating for the company. Finally, Barclays lowered their price target on shares of Sunoco from $47.00 to $44.00 in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Sunoco has an average rating of "Moderate Buy" and an average target price of $45.00.
Hedge funds have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC lifted its stake in Sunoco by 7.6% in the first quarter. Vident Investment Advisory LLC now owns 47,217 shares of the oil and gas company's stock worth $1,928,000 after purchasing an additional 3,320 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Sunoco by 2,798.2% in the second quarter. JPMorgan Chase & Co. now owns 51,588 shares of the oil and gas company's stock valued at $1,921,000 after acquiring an additional 49,808 shares during the period. Royal Bank of Canada increased its position in shares of Sunoco by 19.7% in the first quarter. Royal Bank of Canada now owns 46,185 shares of the oil and gas company's stock valued at $1,887,000 after acquiring an additional 7,595 shares during the period. First Republic Investment Management Inc. increased its position in shares of Sunoco by 43.9% in the first quarter. First Republic Investment Management Inc. now owns 36,103 shares of the oil and gas company's stock valued at $1,474,000 after acquiring an additional 11,012 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Sunoco in the first quarter valued at about $1,274,000. 16.82% of the stock is owned by institutional investors.
Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and 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.
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