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

Sunoco LP (NYSE:SUN) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Friday, August 7th will be paid 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 5.4%. 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 by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Sunoco has a payout ratio of 70.9% 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 $4.00 annual dividend with an expected future payout ratio of 45.1%.

Sunoco Price Performance

Shares of SUN opened at $74.47 on Wednesday. The firm has a market cap of $15.25 billion, a PE ratio of 19.05 and a beta of 0.41. Sunoco has a 52-week low of $47.98 and a 52-week high of $78.11. The business’s 50 day moving average price is $68.91 and its two-hundred day moving average price is $65.63. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.92 and a current ratio of 1.40.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $0.94 EPS for the quarter, missing the consensus estimate of $2.50 by ($1.56). The company had revenue of $14.26 billion for the quarter, compared to analyst estimates of $11.05 billion. Sunoco had a return on equity of 17.52% and a net margin of 3.07%.The business’s quarterly revenue was up 164.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, equities analysts anticipate that Sunoco will post 8.8 EPS for the current year.

Institutional Investors Weigh In On Sunoco

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC boosted its holdings in Sunoco by 250.4% during the 1st quarter. Kestra Advisory Services LLC now owns 62,358 shares of the oil and gas company’s stock worth $4,051,000 after acquiring an additional 44,563 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Sunoco by 19.6% in the first quarter. Sanctuary Advisors LLC now owns 154,713 shares of the oil and gas company’s stock valued at $10,052,000 after purchasing an additional 25,403 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Sunoco by 18.4% during the first quarter. Miller Howard Investments Inc. NY now owns 816,233 shares of the oil and gas company’s stock valued at $53,031,000 after purchasing an additional 126,964 shares in the last quarter. Infrastructure Capital Advisors LLC boosted its holdings in Sunoco by 11.9% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 725,366 shares of the oil and gas company’s stock worth $38,016,000 after purchasing an additional 76,939 shares during the last quarter. Finally, Crescent Grove Advisors LLC bought a new stake in Sunoco in the 1st quarter worth about $1,746,000. Institutional investors own 24.29% of the company’s stock.

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.