Welcome to our dedicated page for Sunoco Lp/Sunoco Fin news (Ticker: SUN), a resource for investors and traders seeking the latest updates and insights on Sunoco Lp/Sunoco Fin stock.
Sunoco LP reports news about its fuel distribution and energy infrastructure partnership, including operating results, cash distributions, acquisitions, and capital-structure actions. The master limited partnership distributes motor fuel to Sunoco and partner-branded retail locations, independent dealers, distributors, and commercial customers, and operates midstream assets that include pipeline systems and terminals across North America, the Greater Caribbean, and Europe.
Recurring updates cover Fuel Distribution and Pipeline Systems performance, quarterly distribution decisions, senior note offerings and debt refinancing, completed acquisition integration, and outlook commentary. Sunoco’s general partner is owned by Energy Transfer LP, and related announcements may also reference SunocoCorp LLC’s direct limited partner interest in Sunoco LP.
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.
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.
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.
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.
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.
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.
Sunoco LP announced the purchase of NuStar Preferred Units and the full redemption of NuStar Logistics Subordinated Notes. SUN will buy all outstanding units of NuStar's Preferred Units on June 3, 2024, while Logistics will redeem all of its outstanding Subordinated Notes due 2043. The redemption and purchase will be made on the Redemption Date with final cash distributions to holders of the Preferred Units. The redemption price for the Preferred Units and Subordinated Notes will be paid out accordingly.
Tortoise announced a revision to the corporate action treatment for the Tortoise North American Pipeline Index (TNAP), with NuStar Energy LP being removed due to an approved acquisition by Sunoco LP. Special rebalancings will occur in the Tortoise MLP Index (TMLP) and the TNAP as a result of these changes.
Sunoco LP (NYSE: SUN) has completed the acquisition of NuStar Energy L.P., resulting in a 4% increase in its quarterly distribution. The merger enhances Sunoco's stability, credit profile, and financial foundation, with expected synergies and increased cash flow. The transaction is projected to be immediately accretive to distributable cash flow per LP unit, growing over 10% by the third year. Additionally, the Board of Directors declared a quarterly distribution of $0.8756 per common unit, showing continued confidence in future distribution increases.
Sunoco LP (SUN) and NuStar Energy L.P. (NS) have announced the approval by NuStar unitholders of a merger with Sunoco. Approximately 69% of the outstanding common units of NuStar voted in favor of the transaction. The merger is expected to close on or about May 3, 2024, with NuStar unitholders receiving 0.400 of a Sunoco common unit for each NuStar common unit.