Sunoco LP (NYSE:SUN – Get Free Report) declared 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) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, August 7th. This is a 1.3% increase from Sunoco’s previous quarterly dividend of $0.99.
Sunoco has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Sunoco has a payout ratio of 70.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sunoco to earn $8.86 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 44.7%.
Sunoco Stock Up 2.7%
Shares of Sunoco stock opened at $76.55 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 2.03. The firm has a market cap of $15.68 billion, a P/E ratio of 19.58 and a beta of 0.42. Sunoco has a fifty-two week low of $47.98 and a fifty-two week high of $77.03. The business has a 50-day moving average price of $68.32 and a 200 day moving average price of $64.96.
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.
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