Sunoco LP (SUN) Posts Earnings Results, Misses Expectations By $2.69 EPS
Sunoco LP (NYSE:SUN) announced its quarterly earnings data on Tuesday. The oil and gas company reported ($2.53) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $2.69, RTT News reports. Sunoco had a negative net margin of 2.77% and a positive return on equity of 7.81%. During the same period in the previous year, the company posted $0.53 earnings per share.
Sunoco (NYSE:SUN) traded down 1.63% during midday trading on Tuesday, reaching $30.26. The company’s stock had a trading volume of 580,663 shares. Sunoco has a 12 month low of $21.01 and a 12 month high of $32.67. The firm’s market capitalization is $3.01 billion. The stock’s 50-day moving average price is $30.81 and its 200-day moving average price is $28.76.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, August 7th will be given a dividend of $0.8255 per share. This represents a $3.30 dividend on an annualized basis and a yield of 10.91%. The ex-dividend date is Thursday, August 3rd. Sunoco’s dividend payout ratio (DPR) is presently -57.19%.
SUN has been the subject of a number of recent analyst reports. TheStreet raised Sunoco from a “d+” rating to a “c-” rating in a research report on Wednesday, April 26th. Citigroup Inc. raised Sunoco from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $22.00 to $29.00 in a research report on Tuesday, April 25th. Vetr downgraded Sunoco from a “buy” rating to a “sell” rating and set a $26.22 price objective for the company. in a research report on Monday, April 10th. Robert W. Baird raised Sunoco from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $36.00 in a research report on Monday, April 10th. Finally, Deutsche Bank AG raised Sunoco from a “hold” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $36.00 in a research report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Sunoco presently has a consensus rating of “Hold” and an average price target of $31.04.
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Sunoco Company Profile
Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.
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