Sunoco LP (NYSE:SUN) to Issue Quarterly Dividend of $1.00

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, August 7th will be given a dividend of 1.0023 per share by the oil and gas company on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Friday, August 7th. This is a 1.3% increase from Sunoco’s previous quarterly dividend of $0.99.

Sunoco has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. Sunoco has a dividend payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sunoco to earn $8.82 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 44.9%.

Sunoco Stock Performance

Shares of SUN stock opened at $74.33 on Tuesday. Sunoco has a 12 month low of $47.98 and a 12 month high of $77.03. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.40 and a quick ratio of 0.92. The firm has a market capitalization of $15.22 billion, a P/E ratio of 19.01 and a beta of 0.42. The company’s fifty day moving average price is $68.24 and its two-hundred day moving average price is $64.80.

Sunoco (NYSE:SUN) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $1.14. Sunoco had a net margin of 3.07% and a return on equity of 17.52%. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s revenue for the quarter was up 106.4% on a year-over-year basis. On average, research analysts anticipate that Sunoco will post 7.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunoco

A number of hedge funds have recently added to or reduced their stakes in SUN. Ancora Advisors LLC acquired a new stake in shares of Sunoco during the third quarter worth $40,000. Glen Eagle Advisors LLC raised its stake in Sunoco by 496.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 710 shares during the period. Cresta Advisors Ltd. acquired a new stake in Sunoco during the fourth quarter worth about $64,000. Cassaday & Co Wealth Management LLC bought a new position in Sunoco in the first quarter worth about $78,000. Finally, Russell Investments Group Ltd. lifted its holdings in Sunoco by 110.3% in the fourth quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after acquiring an additional 823 shares during the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

About Sunoco

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.