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Shares of Susser Petroleum Partners (NASDAQ:SUSP) reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company, American Banking & Market News reports. The company traded as high as $52.40 and last traded at $52.20, with a volume of 26,762 shares traded. The stock had previously closed at $51.75.

The newly announced dividend is scheduled for Friday, August 29th. Stockholders of record on Tuesday, August 19th will be given a dividend of $0.5197 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.02%.

Separately, analysts at Benchmark Co. downgraded shares of Susser Petroleum Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 4th. They now have a $47.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.63.

The stock’s 50-day moving average is $49.37 and its 200-day moving average is $41.51. The company has a market cap of $1.146 billion and a price-to-earnings ratio of 29.17.

Susser Petroleum Partners (NASDAQ:SUSP) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by $0.11. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts expect that Susser Petroleum Partners will post $2.15 EPS for the current fiscal year.

Susser Petroleum Partners LP is primarily engaged in fee-based wholesale distribution of motor fuels to Susser Holdings Corporation (NASDAQ:SUSP) and third parties.

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