Sunoco Lp/Sunoco Fin Corp Stock Price, News & Analysis

Sunoco LP (NYSE: SUN) has successfully completed the acquisition of eight refined products terminals from NuStar Energy, L.P. for approximately $250 million. This follows an earlier acquisition of a terminal from Cato Incorporated. The transactions were funded through cash on hand and available amounts under SUN's revolving credit facility, marking a significant expansion of its midstream business. These acquisitions are expected to enhance SUN's distribution capabilities across over 10,000 convenience stores and independent dealers nationwide.

Sunoco LP (NYSE: SUN) has announced a private offering of $800 million in 4.500% senior notes due 2030, priced at 100%. The offering, set to settle on October 20, 2021, aims to finance a tender offer for its outstanding 5.500% senior notes due 2026. The notes will be sold only to qualified institutional buyers and non-U.S. persons, as they remain unregistered under the Securities Act. Sunoco operates in the distribution of motor fuel across 30 states and is backed by Energy Transfer LP (NYSE: ET).

Sunoco LP, a master limited partnership engaged in fuel distribution, announced a tender offer to purchase all of its outstanding 5.500% senior notes due 2026. The offer aims to provide holders with cash payments, alongside a consent solicitation for amendments to the indenture governing the notes. The total outstanding principal amount is $800 million. Early tender payments include a total consideration of $1,029.50 per $1,000 note. The tender offer expires on November 2, 2021, requiring majority consent from noteholders for the proposed amendments to take effect.

Sunoco LP (NYSE: SUN) announced a private offering of senior notes totaling $800 million, due in 2030 and 2032. The notes will be co-issued by Sunoco Finance Corp., a wholly owned subsidiary. Sunoco plans to utilize the proceeds to fund a tender offer for its outstanding 5.500% senior notes due 2026. The offering is exempt from registration under the Securities Act, targeting qualified institutional buyers and non-U.S. persons. Sunoco continues to face risks related to the COVID-19 pandemic and commodity price instability.

Energy Transfer (NYSE: ET) has signed a 15-year Power Purchase Agreement (PPA) with SB Energy for 120 megawatts from the Eiffel Solar project in Texas. This agreement supports Energy Transfer's commitment to renewable energy and complements its first agreement with the Maplewood 2 solar farm. SB Energy plans to commence construction on the Eiffel Solar project in 2022, with energy delivery starting in January 2024. The initiative aligns with the growing demand for clean energy solutions in Texas.

Sunoco LP (NYSE: SUN) reported a net income of $166 million for Q2 2021, up from $157 million in Q2 2020. Adjusted EBITDA increased to $201 million, driven by higher fuel volume and gross profit, despite lower fuel margins and increased operating expenses. The company sold 1.9 billion gallons of fuel, marking a 28% increase year-over-year. A distribution of $0.8255 per unit was declared, with cash coverage at 1.67 times. SUN executed agreements to acquire terminals for $255.5 million, expected to enhance value for unitholders. Full-year EBITDA outlook remains at $725 to $765 million.

Sunoco LP (NYSE: SUN) has announced its acquisition of nine refined product terminals for a total of $255.5 million. The acquisitions include terminals from NuStar Energy L.P. and Cato, Incorporated, significantly expanding SUN's midstream operations. This strategic move enhances SUN's fuel distribution capabilities while maintaining its financial leverage targets. The deal is expected to be accretive to unitholders upon closing in Q4 2021. The acquired terminals, primarily located on the East Coast and in the Midwest, have a combined storage capacity of approximately 14.8 million barrels.

Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q2 2021, equating to an annualized rate of $3.3020. This distribution will be paid on August 19, 2021, to unitholders of record by August 6, 2021. Additionally, SUN will report its Q2 2021 financial results before market opening on August 3, 2021, followed by a conference call at 9:00 a.m. CT. This highlights SUN's ongoing commitment to maintain distributions amidst its operational activities.