Brokers Offer Predictions for Sunoco LP's Q1 2024 Earnings (NYSE:SUN)

Sunoco LP (NYSE:SUN - Free Report) - Zacks Research increased their Q1 2024 earnings per share estimates for Sunoco in a research note issued on Wednesday, April 24th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings per share of $1.04 for the quarter, up from their prior 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.

SUN has been the subject of several other research reports. Stifel Nicolaus lowered Sunoco from a "buy" rating to a "hold" rating and set a $62.00 price objective for the company. in a research report on Tuesday, February 20th. Citigroup lowered Sunoco from a "buy" rating to a "neutral" rating and set a $65.00 price target for the company. in a research report on Tuesday, February 27th. Wells Fargo & Company lifted their price target on Sunoco from $60.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 20th. Barclays lifted their price target on Sunoco from $57.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 17th. Finally, StockNews.com downgraded Sunoco from a "buy" rating to a "hold" rating in a 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $62.71.

Sunoco Stock Down 0.1 %

Sunoco stock traded down $0.06 on Thursday, hitting $56.32. 462,973 shares of the stock traded hands, compared to its average volume of 462,603. The company has a current ratio of 1.40, a quick ratio of 0.76 and a debt-to-equity ratio of 3.66. The firm has a market cap of $5.68 billion, a P/E ratio of 15.31 and a beta of 1.27. The business's fifty day simple moving average is $59.74 and its 200 day simple moving average is $57.11. Sunoco has a 1 year low of $41.95 and a 1 year high of $64.89.

Sunoco (NYSE:SUN - Get Free Report) last announced its quarterly earnings results 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). The business 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%. The business's revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS.

Insider Buying and Selling at Sunoco

In other news, Director David K. Skidmore purchased 1,500 shares of the business's stock in a transaction on Wednesday, April 17th. The stock was acquired at an average cost of $52.10 per share, for a total transaction of $78,150.00. Following the purchase, the director now directly owns 14,608 shares in the company, valued at approximately $761,076.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of Sunoco by 31.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,666 shares of the oil and gas company's stock valued at $1,487,000 after buying an additional 5,934 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Sunoco in the 1st quarter worth approximately $214,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Sunoco by 0.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 193,821 shares of the oil and gas company's stock worth $11,685,000 after purchasing an additional 690 shares in the last quarter. PFG Investments LLC lifted its holdings in Sunoco by 13.8% in the 1st quarter. PFG Investments LLC now owns 6,561 shares of the oil and gas company's stock worth $396,000 after purchasing an additional 794 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Sunoco by 10.5% in the 1st quarter. Raymond James & Associates now owns 85,112 shares of the oil and gas company's stock worth $5,131,000 after purchasing an additional 8,087 shares in the last quarter. 24.29% of the stock is owned by hedge funds and other institutional investors.

About Sunoco

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.