Sunoco LP (NYSE:SUN) Forecasted to Post Q1 2024 Earnings of $1.04 Per Share

Sunoco LP (NYSE:SUN) – Analysts at Zacks Research lifted their Q1 2024 earnings per share (EPS) estimates for shares of Sunoco in a report issued on Wednesday, April 24th. Zacks Research analyst R. Department now anticipates that the oil and gas company will earn $1.04 per share for the quarter, up from their previous estimate of $1.03. The consensus estimate for Sunoco’s current full-year earnings is $5.03 per share. Zacks Research also issued estimates for Sunoco’s Q2 2024 earnings at $1.32 EPS, Q3 2024 earnings at $1.37 EPS, Q4 2024 earnings at $1.24 EPS, FY2024 earnings at $4.98 EPS, Q3 2025 earnings at $1.15 EPS, Q4 2025 earnings at $1.10 EPS, FY2025 earnings at $4.39 EPS and FY2026 earnings at $4.48 EPS.

Other equities analysts also recently issued reports about the company. Mizuho increased their target price on Sunoco from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Raymond James lifted their price objective on Sunoco from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Citigroup cut Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Tuesday, February 27th. StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Stifel Nicolaus lowered shares of Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Tuesday, February 20th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.71.

Sunoco Price Performance

Sunoco stock opened at $56.32 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.76 and a debt-to-equity ratio of 3.66. The company has a market capitalization of $5.68 billion, a PE ratio of 15.31 and a beta of 1.27. Sunoco has a 12 month low of $41.95 and a 12 month high of $64.89. The stock has a 50-day moving average price of $59.74 and a two-hundred day moving average price of $57.11.

Sunoco (NYSE:SUN) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($1.50) earnings per share for the quarter, missing the consensus estimate of $0.96 by ($2.46). Sunoco had a return on equity of 37.91% and a net margin of 1.71%. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. Sunoco’s quarterly revenue was down 4.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SUN. Blackstone Inc. boosted its stake in Sunoco by 58.0% during the fourth quarter. Blackstone Inc. now owns 2,387,608 shares of the oil and gas company’s stock worth $143,089,000 after acquiring an additional 876,452 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Sunoco by 6,075.4% during the fourth quarter. International Assets Investment Management LLC now owns 574,315 shares of the oil and gas company’s stock worth $34,419,000 after acquiring an additional 565,015 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Sunoco by 10.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,904,735 shares of the oil and gas company’s stock worth $174,081,000 after acquiring an additional 275,875 shares in the last quarter. Jennison Associates LLC bought a new position in Sunoco during the fourth quarter worth $15,396,000. Finally, TCG Advisory Services LLC bought a new position in Sunoco during the fourth quarter worth $14,380,000. 24.29% of the stock is owned by institutional investors.

Insider Transactions at Sunoco

In other news, Director David K. Skidmore acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $52.10 per share, for a total transaction of $78,150.00. Following the completion of the transaction, the director now directly owns 14,608 shares in the company, valued at approximately $761,076.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sunoco Company Profile

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.