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

Sunoco LP (NYSE:SUN) – Investment analysts at Zacks Research lifted their Q1 2024 earnings per share estimates for Sunoco in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings of $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 $5.07 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.

SUN has been the subject of several other reports. Raymond James lifted their price target on Sunoco from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Wells Fargo & Company lifted their price target on Sunoco from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 20th. Mizuho lifted their price target on Sunoco from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Stifel Nicolaus cut Sunoco from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. lifted their price target on Sunoco from $53.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.71.

Sunoco Price Performance

Shares of NYSE SUN opened at $56.64 on Thursday. The stock has a market cap of $5.71 billion, a PE ratio of 15.56 and a beta of 1.27. Sunoco has a fifty-two week low of $41.95 and a fifty-two week high of $64.89. 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 stock has a fifty day moving average of $59.62 and a 200-day moving average of $57.11.

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

Insider Transactions at Sunoco

In other news, Director David K. Skidmore bought 1,500 shares of Sunoco stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average price of $52.10 per share, with a total value of $78,150.00. Following the completion of the purchase, the director now directly owns 14,608 shares in the company, valued at $761,076.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Sunoco

Large investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Sunoco during the fourth quarter valued at about $27,000. ICA Group Wealth Management LLC purchased a new stake in Sunoco during the fourth quarter valued at about $30,000. Allworth Financial LP raised its position in Sunoco by 250.0% during the fourth quarter. Allworth Financial LP now owns 700 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 500 shares in the last quarter. Compass Wealth Management LLC raised its position in Sunoco by 60.0% during the third quarter. Compass Wealth Management LLC now owns 800 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Finally, Register Financial Advisors LLC purchased a new stake in Sunoco during the first quarter valued at about $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.