Sunoco LP (SUN) To Go Ex-Dividend on May 8th

Sunoco LP (NYSE:SUN) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, May 8th will be paid a dividend of 0.9899 per share by the oil and gas company on Wednesday, May 20th. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, May 8th. This is a 6.2% increase from Sunoco’s previous quarterly dividend of $0.93.

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 payout ratio of 66.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sunoco to earn $9.32 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 39.9%.

Sunoco Trading Up 2.5%

Shares of SUN stock opened at $66.25 on Thursday. The business’s fifty day moving average price is $64.01 and its 200 day moving average price is $57.67. Sunoco has a 1-year low of $47.98 and a 1-year high of $67.82. The firm has a market capitalization of $13.57 billion, a PE ratio of 29.19 and a beta of 0.48. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.38 and a quick ratio of 0.78.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, February 17th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($1.55). Sunoco had a return on equity of 10.76% and a net margin of 2.01%.The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $9.65 billion. During the same period in the prior year, the company earned $0.75 EPS. The company’s revenue was up 63.2% on a year-over-year basis. As a group, sell-side analysts forecast that Sunoco will post 7.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Sunoco

Large investors have recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Sunoco in the 3rd quarter worth about $31,000. Ancora Advisors LLC purchased a new position in shares of Sunoco in the 3rd quarter worth about $40,000. Glen Eagle Advisors LLC raised its holdings in shares of Sunoco by 496.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 853 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 710 shares during the period. Cresta Advisors Ltd. purchased a new position in shares of Sunoco in the 4th quarter worth about $64,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Sunoco by 110.3% in the 4th quarter. Russell Investments Group Ltd. now owns 1,569 shares of the oil and gas company’s stock worth $82,000 after purchasing an additional 823 shares during the period. 24.29% of the stock is currently owned by hedge funds and other institutional investors.

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.