Sunoco (NYSE:SUN) Issues Earnings Results, Misses Expectations By $0.73 EPS

Sunoco (NYSE:SUN) announced its earnings results on Tuesday. The oil and gas company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.73), Zacks reports. Sunoco had a net margin of 2.72% and a return on equity of 19.77%.

Sunoco Price Performance

Shares of Sunoco stock opened at $56.81 on Tuesday. The business’s fifty day moving average price is $53.91 and its 200 day moving average price is $53.39. Sunoco has a twelve month low of $49.45 and a twelve month high of $64.89. The company has a current ratio of 1.16, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $8.66 billion, a P/E ratio of 13.06 and a beta of 1.36.

Sunoco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a $0.8865 dividend. This is a positive change from Sunoco’s previous quarterly dividend of $0.88. This represents a $3.55 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Friday, February 7th. Sunoco’s dividend payout ratio (DPR) is 80.46%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SUN. Barclays upped their price objective on shares of Sunoco from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their price target on Sunoco from $63.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Mizuho lifted their price objective on Sunoco from $61.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.43.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.