STOCK TITAN

Sunoco LP - SUN STOCK NEWS

Welcome to our dedicated page for Sunoco LP news (Ticker: SUN), a resource for investors and traders seeking the latest updates and insights on Sunoco LP stock.

Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating across 47 U.S. states, Puerto Rico, Europe, and Mexico. For over 125 years, the Sunoco brand has symbolized excellence and quality, laying a rich foundation that continues to guide the company's growth. Sunoco LP is primarily engaged in the distribution of motor fuels to independent dealers, distributors, and commercial customers, as well as end-use customers through retail sites run by commission agents.

Every year, Sunoco LP transports millions of gallons of transportation fuel, crude oil, and other products through its extensive logistics network. The company's retail operations span 24 states, delivering convenience and speed to customers. Sunoco LP operates through the Fuel Distribution and Marketing segment, with convenience stores under brands such as APlus, Stripes, Aloha Island Mart, and Tigermarket.

Sunoco is not just a name in fuel distribution; it is also the official fuel of NASCAR®, serving as the authorized gasoline manufacturer for over 50 racing series, including NASCAR's Sprint Cup Series™, Nationwide Series™, and Camping World Truck Series™.

In April 2024, Sunoco LP made significant strides by acquiring liquid fuel terminals from Zenith Energy and divesting 204 convenience stores to 7-Eleven, Inc. These strategic moves are expected to be immediately accretive to unitholders' value. The acquisition of Zenith Energy Netherlands Amsterdam B.V. positions Sunoco at a critical hub in Europe's energy market, enhancing supply chain efficiencies for its U.S. East Coast operations.

Financially, Sunoco LP reported robust results for the first quarter of 2024, with a net income of $230 million, a significant increase from $141 million in the first quarter of 2023. The company sold over 2.1 billion gallons of fuel, marking a 9% increase from the previous year. With an upgraded credit rating and improved leverage ratio, Sunoco LP continues to show strong financial health and growth potential.

Sunoco LP’s general partner is owned by Energy Transfer LP (NYSE: ET). The company constantly innovates and evolves, staying committed to helping its customers reach their destinations efficiently.

Rhea-AI Summary

Energy Transfer LP (NYSE: ET) has announced its plan to release earnings for Q2 2024 on August 7, 2024, after market close. The company will also hold an earnings call at 3:30 p.m. Central Time/4:30 p.m. Eastern Time the same day, which will be streamed live on their website and available for replay later. Energy Transfer operates a vast and diverse portfolio of energy assets across the U.S., including more than 125,000 miles of pipelines. The company’s operations span 44 states and major U.S. production basins, offering services in natural gas midstream, transportation, storage, and NGL fractionation. Additionally, Energy Transfer holds substantial general partner and equity interests in Sunoco LP and USA Compression Partners. For more details, visit www.energytransfer.com.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.99%
Tags
-
Rhea-AI Summary

Sunoco LP (NYSE: SUN) will release its second quarter 2024 financial and operating results before the market opens on August 7, 2024. Management will discuss the results in a conference call at 9:00 a.m. CDT (10:00 a.m. EDT) on the same day. Investors can join the call by dialing 877-407-6184 (toll-free) or 201-389-0877. A replay will be available until August 14, 2024, by dialing 877-660-6853 (toll-free) or 201-612-7415 and using conference ID 13747627. Alternatively, investors can access the webcast via Sunoco's Investor Relations website, where a replay will also be available shortly after the call.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.99%
Tags
-
Rhea-AI Summary

Energy Transfer LP (NYSE: ET) has submitted its premerger notification filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its acquisition of WTG Midstream Holdings. The purchase price for WTG has been adjusted to approximately $3.075 billion, excluding a 20% interest in the BANGL pipeline, which was subject to a right of first offer. The acquisition is expected to close in Q3 2024, pending regulatory approval. Energy Transfer anticipates accretion of $0.04 per common unit in 2025 and $0.07 in 2027. WTG owns the largest private gas gathering and processing business in the Permian Basin. This acquisition will enhance Energy Transfer's access to natural gas and NGL volumes, benefiting their Permian operations and downstream businesses.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.04%
Tags
Rhea-AI Summary

Sunoco LP (NYSE: SUN) announced its participation in J.P. Morgan's 2024 Energy, Power, and Renewables Conference, scheduled for June 18, 2024. During this event, Sunoco's management team will engage in meetings with investors. A slide presentation prepared for these meetings is accessible on Sunoco's website under the Investor Relations section.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.06%
Tags
none
-
Rhea-AI Summary

Energy Transfer (NYSE: ET) has announced the availability of 2023 Schedule K-3s for both Energy Transfer LP and Crestwood Equity Partners LP. These documents, important for international tax reporting, can be accessed online in the investor relations section of the Energy Transfer website. Certain unitholders, including foreign unitholders and those computing a foreign tax credit, may need the detailed information on Schedule K-3 for their tax filings. Unitholders can also request electronic copies via email or by contacting Tax Package Support, available Monday to Friday from 8:00 am to 5:00 pm Central Time. Contact details are provided for different types of unitholders.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.06%
Tags
none
-
Rhea-AI Summary

Energy Transfer LP (NYSE: ET) has announced the pricing of $3.5 billion in senior notes and $400 million in junior subordinated notes, with the offerings expected to close on June 21, 2024. The senior notes are divided into three tranches: $1 billion at 5.250% due 2029, $1.25 billion at 5.600% due 2034, and $1.25 billion at 6.050% due 2054. The junior subordinated notes are priced at 7.125% due 2054. The company plans to use the net proceeds of $3.463 billion and $396 million, respectively, for funding its acquisition of WTG Midstream Holdings , refinancing existing debt, and other general purposes.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.19%
Tags
none
Rhea-AI Summary

Sunoco LP (NYSE: SUN) and NuStar Energy Partners, L.P. have announced the availability of their 2023 Schedule K-3s, reflecting items of international tax relevance, for online access. This information is important for specific unitholders including foreign unitholders, those computing a foreign tax credit, and certain corporate and partnership unitholders. SUN Common Unitholders can request an electronic copy via email by calling Tax Package Support at (844) 289-8131. NuStar unitholders can also request their Schedule K-3s by contacting Tax Package Support at the provided numbers. For more details, visit the Sunoco LP website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.19%
Tags
none
-
Rhea-AI Summary

Energy Transfer (NYSE: ET) will acquire WTG Midstream in a $3.25 billion deal, enhancing its gas pipeline and processing network in the Permian Basin. The acquisition includes eight processing plants with a capacity of 1.3 Bcf/d, two new plants under construction, and over 6,000 miles of gas gathering pipelines. The transaction, expected to close in Q3 2024, involves $2.45 billion in cash and 50.8 million newly issued ET common units. It is anticipated to add $0.04 to 2025 DCF per unit, growing to $0.07 by 2027. Regulatory approval is pending.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.32%
Tags
-
Rhea-AI Summary

Energy Transfer LP (NYSE: ET) reported strong first quarter 2024 results with a net income of $1.24 billion. Adjusted EBITDA was $3.88 billion, seeing an increase in distributable cash flow. Operational highlights included significant growth in volumes across various segments. Financially, Energy Transfer raised its Adjusted EBITDA guidance for 2024 and approved new projects to enhance its operations.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.12%
Tags
Rhea-AI Summary

Sunoco LP reported record first quarter net income of $230 million and Adjusted EBITDA of $242 million. They increased their full year 2024 Adjusted EBITDA guidance to $1.46 billion to $1.52 billion, including the acquisition of NuStar Energy L.P. The Partnership also raised their quarterly distribution by 4%. They sold over 2.1 billion gallons of fuel in the first quarter of 2024, showing a 9% increase from the previous year. SUN's liquidity stood at approximately $870 million at the end of the quarter, with a leverage ratio of 3.7 times net debt to Adjusted EBITDA. Recent developments include acquisitions in Europe and the completion of a $1.5 billion unsecured notes offering.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.74%
Tags

FAQ

What does Sunoco LP do?

Sunoco LP distributes motor fuels to independent dealers, distributors, commercial customers, and end-use customers at retail sites.

Where does Sunoco LP operate?

Sunoco LP operates across 47 U.S. states, Puerto Rico, Europe, and Mexico.

Who owns Sunoco LP?

Sunoco LP's general partner is owned by Energy Transfer LP (NYSE: ET).

What are Sunoco LP's key brands?

Key brands include APlus, Stripes, Aloha Island Mart, and Tigermarket.

What is Sunoco LP's relationship with NASCAR?

Sunoco LP is the official fuel of NASCAR®, providing gasoline for over 50 racing series, including NASCAR's Sprint Cup Series™, Nationwide Series™, and Camping World Truck Series™.

How did Sunoco LP perform financially in the first quarter of 2024?

Sunoco LP reported a net income of $230 million and sold over 2.1 billion gallons of fuel, a 9% increase from the first quarter of 2023.

What recent acquisitions has Sunoco LP completed?

In 2024, Sunoco LP acquired liquid fuel terminals from Zenith Energy, enhancing its supply chain efficiencies.

What divestitures has Sunoco LP made recently?

Sunoco LP divested 204 convenience stores to 7-Eleven, Inc. in April 2024.

What is Sunoco LP's credit rating?

As of May 2024, S&P Global Ratings raised Sunoco LP's issuer credit rating to BB+ and Moody's Ratings raised its Corporate Family Rating to Ba1.

How does Sunoco LP contribute to the energy market?

Sunoco LP contributes by distributing motor fuel, operating midstream assets, and maintaining an extensive logistics network supporting the energy market.

Sunoco LP

NYSE:SUN

SUN Rankings

SUN Stock Data

7.72B
135.04M
21.5%
16.06%
0.92%
Pipeline Transportation of Crude Oil
Transportation and Warehousing
Link
United States of America
DALLAS