Sunoco LP (NYSE:SUN) to Post Q1 2024 Earnings of $1.04 Per Share, Zacks Research Forecasts

Sunoco LP (NYSE:SUN) – Equities researchers at Zacks Research boosted their Q1 2024 earnings per share estimates for Sunoco in a research note issued to investors on Wednesday, April 24th. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings per share of $1.04 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.

SUN has been the topic of several other research reports. Citigroup lowered Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised their price objective on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Stifel Nicolaus downgraded Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research report on Tuesday, February 20th. Raymond James raised their price objective on Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Mizuho raised their price objective on Sunoco from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.71.

Sunoco Stock Performance

Shares of Sunoco stock opened at $56.39 on Thursday. The firm has a market cap of $5.69 billion, a P/E ratio of 15.49 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.76 and a debt-to-equity ratio of 3.66. Sunoco has a 12 month low of $41.95 and a 12 month high of $64.89. The stock’s fifty day moving average price is $59.83 and its 200-day moving average price is $57.12.

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

Institutional Investors Weigh In On Sunoco

A number of institutional investors and hedge funds have recently modified their holdings of SUN. Blackstone Inc. lifted its holdings in shares of 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 purchasing an additional 876,452 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 565,015 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 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 purchasing an additional 275,875 shares during the period. Jennison Associates LLC purchased a new position in Sunoco during the fourth quarter valued at approximately $15,396,000. Finally, TCG Advisory Services LLC purchased a new position in Sunoco during the fourth quarter valued at approximately $14,380,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

Insiders Place Their Bets

In other Sunoco news, Director David K. Skidmore purchased 1,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was acquired at an average price of $52.10 per share, with a total value of $78,150.00. Following the completion of the acquisition, the director now owns 14,608 shares in the company, valued at $761,076.80. The acquisition was disclosed in a filing with the SEC, which is available at this link.

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.