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

Sunoco LP (NYSE:SUN) – Analysts at Zacks Research upped their Q1 2024 earnings per share estimates for shares of Sunoco in a research report issued on Wednesday, April 24th. Zacks Research analyst R. Department now expects that the oil and gas company will earn $1.04 per share for the quarter, up from their previous forecast 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.

A number of other research analysts also recently commented on SUN. JPMorgan Chase & Co. increased their price objective on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Citigroup downgraded Sunoco from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Tuesday, February 27th. Wells Fargo & Company increased their price objective on Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, February 20th. Mizuho upped their target price on Sunoco from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Finally, StockNews.com cut Sunoco from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Sunoco currently has a consensus rating of “Hold” and a consensus price target of $62.71.

Sunoco Trading Down 0.4 %

SUN opened at $56.39 on Thursday. Sunoco has a one year low of $41.95 and a one year high of $64.89. The company 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 debt-to-equity ratio of 3.66, a quick ratio of 0.76 and a current ratio of 1.40. The business’s 50-day simple moving average is $59.83 and its 200-day simple moving average is $57.12.

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

Insiders Place Their Bets

In other news, Director David K. Skidmore acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average cost of $52.10 per share, with a total value of $78,150.00. Following the purchase, the director now directly owns 14,608 shares of the company’s stock, valued at approximately $761,076.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Sunoco

Hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. purchased a new position in Sunoco during the fourth quarter worth $27,000. ICA Group Wealth Management LLC acquired a new stake in shares of Sunoco during the fourth quarter worth $30,000. Allworth Financial LP boosted its holdings in shares of Sunoco by 250.0% during the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 500 shares during the last quarter. Compass Wealth Management LLC boosted its holdings in shares of Sunoco by 60.0% during the third quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Sunoco during the first quarter worth $55,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.

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.