Sunoco LP (NYSE:SUN – Get Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Stockholders of record on Tuesday, February 7th will be paid a dividend of 0.8255 per share by the oil and gas company on Tuesday, February 21st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 7.15%.
Sunoco has a dividend payout ratio of 76.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Sunoco to earn $4.19 per share next year, which means the company should continue to be able to cover its $3.30 annual dividend with an expected future payout ratio of 78.8%.
Sunoco Stock Performance
Shares of NYSE:SUN traded up $0.57 during trading on Wednesday, reaching $46.16. 347,073 shares of the stock were exchanged, compared to its average volume of 253,155. The company has a current ratio of 1.41, a quick ratio of 0.82 and a debt-to-equity ratio of 3.45. The firm has a market cap of $4.62 billion, a PE ratio of 8.73 and a beta of 1.37. The stock has a 50-day moving average price of $43.51 and a 200-day moving average price of $41.38. Sunoco has a 12 month low of $34.26 and a 12 month high of $46.95.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on SUN shares. Raymond James boosted their price target on Sunoco from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company upgraded Sunoco from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $43.00 to $47.00 in a research note on Friday, December 16th. Mizuho upped their target price on Sunoco from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 7th. Barclays upped their target price on Sunoco from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Finally, StockNews.com upgraded Sunoco from a “hold” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.14.
Institutional Trading of Sunoco
A number of institutional investors and hedge funds have recently bought and sold shares of SUN. BNP Paribas Arbitrage SA acquired a new stake in Sunoco in the first quarter valued at $7,314,000. Bank of America Corp DE increased its holdings in Sunoco by 26.2% in the first quarter. Bank of America Corp DE now owns 398,221 shares of the oil and gas company’s stock valued at $16,264,000 after purchasing an additional 82,745 shares during the period. Goldman Sachs Group Inc. increased its holdings in Sunoco by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,982,341 shares of the oil and gas company’s stock valued at $80,959,000 after purchasing an additional 80,430 shares during the period. JPMorgan Chase & Co. increased its holdings in Sunoco by 2,798.2% in the second quarter. JPMorgan Chase & Co. now owns 51,588 shares of the oil and gas company’s stock valued at $1,921,000 after purchasing an additional 49,808 shares during the period. Finally, LPL Financial LLC increased its holdings in Sunoco by 31.3% in the second quarter. LPL Financial LLC now owns 138,661 shares of the oil and gas company’s stock valued at $5,165,000 after purchasing an additional 33,066 shares during the period. 16.16% of the stock is currently owned by institutional investors and hedge funds.
Sunoco Company Profile
Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates in two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.
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