Sunoco LP (NYSE:SUN) to Issue Dividend Increase – $0.93 Per Share

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Friday, February 6th will be given a dividend of 0.9317 per share by the oil and gas company on Thursday, February 19th. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, February 6th. This is a 1.2% increase from Sunoco’s previous quarterly dividend of $0.92.

Sunoco has increased 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 dividend payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sunoco to earn $11.53 per share next year, which means the company should continue to be able to cover its $3.68 annual dividend with an expected future payout ratio of 31.9%.

Sunoco Stock Performance

Shares of SUN stock traded up $0.13 during trading hours on Wednesday, hitting $58.75. The company’s stock had a trading volume of 99,951 shares, compared to its average volume of 455,203. The company has a 50 day moving average of $54.72 and a 200 day moving average of $52.89. The stock has a market cap of $12.02 billion, a PE ratio of 20.05 and a beta of 0.49. The company has a current ratio of 3.11, a quick ratio of 2.50 and a debt-to-equity ratio of 2.33. Sunoco has a 12-month low of $47.98 and a 12-month high of $59.88.

Sunoco (NYSE:SUN) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.90). The company had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Sunoco had a net margin of 2.61% and a return on equity of 13.94%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) EPS. On average, sell-side analysts forecast that Sunoco will post 10.65 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.