Sunoco LP (NYSE:SUN – Get Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Stockholders of record on Tuesday, February 7th will be given 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 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 fall. Equities 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 Up 1.3 %
Shares of SUN stock traded up $0.57 on Wednesday, reaching $46.16. 347,073 shares of the company were exchanged, compared to its average volume of 253,155. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 8.73 and a beta of 1.37. The company has a 50-day moving average of $43.51 and a 200-day moving average of $41.38. The company has a debt-to-equity ratio of 3.45, a current ratio of 1.41 and a quick ratio of 0.82. Sunoco has a one year low of $34.26 and a one year high of $46.95.
Institutional Investors Weigh In On Sunoco
Several institutional investors and hedge funds have recently added to or reduced their stakes in SUN. International Assets Investment Management LLC increased its stake in shares of Sunoco by 1.7% during the 1st quarter. International Assets Investment Management LLC now owns 15,519 shares of the oil and gas company’s stock worth $634,000 after purchasing an additional 266 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in shares of Sunoco by 7.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 5,369 shares of the oil and gas company’s stock worth $219,000 after purchasing an additional 357 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sunoco by 5.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,897 shares of the oil and gas company’s stock worth $527,000 after purchasing an additional 704 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Sunoco by 60.3% during the 1st quarter. Captrust Financial Advisors now owns 2,549 shares of the oil and gas company’s stock worth $104,000 after purchasing an additional 959 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Sunoco by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,939 shares of the oil and gas company’s stock worth $569,000 after purchasing an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 16.16% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on SUN shares. Raymond James raised their price target on shares of Sunoco from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada raised their price target on shares of Sunoco from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 2nd. StockNews.com raised shares of Sunoco from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho increased their price objective on shares of Sunoco from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, November 7th. Finally, Citigroup began coverage on shares of Sunoco in a research note on Thursday, December 8th. They issued a “neutral” rating and a $44.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Sunoco has an average rating of “Moderate Buy” and a consensus price target of $47.14.
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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