Sunoco LP (SUN) To Go Ex-Dividend on February 7th

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Monday, January 27th,NASDAQ Dividends reports. Shareholders of record on Friday, February 7th will be paid a dividend of 0.8865 per share by the oil and gas company on Wednesday, February 19th. This represents a $3.55 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Sunoco’s previous quarterly dividend of $0.88.

Sunoco has raised its dividend by an average of 1.7% per year over the last three years. Sunoco has a dividend payout ratio of 50.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sunoco to earn $10.99 per share next year, which means the company should continue to be able to cover its $3.55 annual dividend with an expected future payout ratio of 32.3%.

Sunoco Price Performance

SUN stock opened at $59.55 on Wednesday. The firm has a 50 day moving average of $53.75 and a 200-day moving average of $53.34. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 13.69 and a beta of 1.36. Sunoco has a 12-month low of $49.45 and a 12-month high of $64.89.

Sunoco (NYSE:SUN) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($1.79). Sunoco had a net margin of 2.72% and a return on equity of 19.77%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period last year, the company earned $2.95 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities analysts expect that Sunoco will post 9.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SUN shares. Royal Bank of Canada raised their price objective on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Mizuho raised their target price on shares of Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays upped their target price on Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.43.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.