Research Analysts Offer Predictions for Sunoco LP’s Q1 2024 Earnings (NYSE:SUN)

Sunoco LP (NYSE:SUN) – Equities researchers at Zacks Research increased their Q1 2024 EPS estimates for Sunoco in a report issued on Wednesday, April 24th. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn $1.04 per share for the quarter, up from their prior estimate of $1.03. The consensus estimate for Sunoco’s current full-year earnings is $5.07 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.

Several other brokerages also recently commented on SUN. Stifel Nicolaus downgraded Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a report on Tuesday, February 20th. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Raymond James raised their price objective on shares of Sunoco from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Wells Fargo & Company raised their price objective on shares of Sunoco from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 20th. Finally, Mizuho raised their price objective on shares of Sunoco from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Sunoco has a consensus rating of “Hold” and a consensus target price of $62.71.

Sunoco Price Performance

Shares of SUN opened at $56.64 on Thursday. The firm has a market cap of $5.71 billion, a PE ratio of 15.56 and a beta of 1.27. The firm’s 50 day moving average price is $59.62 and its 200 day moving average price is $57.11. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. Sunoco has a twelve month low of $41.95 and a twelve month high of $64.89.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Principal Securities Inc. acquired a new position in shares of Sunoco in the 4th quarter valued at approximately $27,000. ICA Group Wealth Management LLC acquired a new position in shares of Sunoco in the 4th quarter valued at approximately $30,000. Allworth Financial LP lifted its stake in Sunoco by 250.0% in the 4th quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 500 shares in the last quarter. Compass Wealth Management LLC increased its holdings in shares of Sunoco by 60.0% during the 3rd quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of Sunoco during the 1st quarter worth approximately $55,000. 24.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Sunoco

In related news, Director David K. Skidmore acquired 1,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average cost 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.