Welcome to our dedicated page for SUNOCO L.P. news (Ticker: SUN), a resource for investors and traders seeking the latest updates and insights on SUNOCO L.P. stock.
Sunoco LP (NYSE: SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating across 47 U.S. states, Puerto Rico, Europe, and Mexico. For over 125 years, the Sunoco brand has symbolized excellence and quality, laying a rich foundation that continues to guide the company's growth. Sunoco LP is primarily engaged in the distribution of motor fuels to independent dealers, distributors, and commercial customers, as well as end-use customers through retail sites run by commission agents.
Every year, Sunoco LP transports millions of gallons of transportation fuel, crude oil, and other products through its extensive logistics network. The company's retail operations span 24 states, delivering convenience and speed to customers. Sunoco LP operates through the Fuel Distribution and Marketing segment, with convenience stores under brands such as APlus, Stripes, Aloha Island Mart, and Tigermarket.
Sunoco is not just a name in fuel distribution; it is also the official fuel of NASCAR®, serving as the authorized gasoline manufacturer for over 50 racing series, including NASCAR's Sprint Cup Series™, Nationwide Series™, and Camping World Truck Series™.
In April 2024, Sunoco LP made significant strides by acquiring liquid fuel terminals from Zenith Energy and divesting 204 convenience stores to 7-Eleven, Inc. These strategic moves are expected to be immediately accretive to unitholders' value. The acquisition of Zenith Energy Netherlands Amsterdam B.V. positions Sunoco at a critical hub in Europe's energy market, enhancing supply chain efficiencies for its U.S. East Coast operations.
Financially, Sunoco LP reported robust results for the first quarter of 2024, with a net income of $230 million, a significant increase from $141 million in the first quarter of 2023. The company sold over 2.1 billion gallons of fuel, marking a 9% increase from the previous year. With an upgraded credit rating and improved leverage ratio, Sunoco LP continues to show strong financial health and growth potential.
Sunoco LP’s general partner is owned by Energy Transfer LP (NYSE: ET). The company constantly innovates and evolves, staying committed to helping its customers reach their destinations efficiently.
Energy Transfer LP (NYSE: ET) will report its third-quarter 2022 earnings on
Energy Transfer LP (NYSE: ET) announced the availability of its 2021 Schedule K-3, detailing international tax items. The Schedule K-3 for Enable Midstream Partners, which merged with ET on December 2, 2021, is also available. Unitholders, particularly foreign ones or those needing tax credits, can access the document online at www.energytransfer.com. Energy Transfer will not be mailing copies to investors. For electronic copies, unitholders can contact Tax Package Support.
Sunoco LP (NYSE: SUN) announced the availability of its 2021 Schedule K-3, which contains significant international tax information for unitholders. This schedule is essential for foreign unitholders and those needing to compute a foreign tax credit. Unitholders can access their Schedules K-3 at www.taxpackagesupport.com/sunocolp, and for electronic copies, they may contact Tax Package Support at (844) 289-8131. Sunoco LP operates across 10,000 convenience stores and is a master limited partnership primarily focused on fuel distribution.
Energy Transfer LP (NYSE: ET) announced a 20-year LNG Sale and Purchase Agreement with Shell NA LNG LLC for its Lake Charles LNG project, supplying 2.1 million tonnes of LNG per annum, starting in 2026. This agreement is part of a broader strategy, increasing total contracted LNG from the facility to nearly 8 million tonnes per annum. The project, which utilizes an existing regasification facility, has received all necessary permits and demonstrates Energy Transfer's commitment to meet global LNG demand.
Energy Transfer LP (NYSE: ET) has successfully completed the sale of its 51% interest in Energy Transfer Canada ULC to a joint venture involving Pembina Pipeline Corporation and KKR-managed global infrastructure funds. This transaction aims to enhance Energy Transfer's balance sheet by promoting deleveraging and redeploying capital within its U.S. operations, which feature a diverse portfolio of energy assets.
CapturePoint Solutions LLC, a subsidiary of CapturePoint, has partnered with Energy Transfer (NYSE: ET) to explore CO2 capture from Haynesville Shale natural gas facilities for sequestration in the Central Louisiana Regional Carbon Storage Hub. This initiative aims to establish one of the largest carbon storage centers in the U.S., with capacity to store millions of tons of CO2 annually. A feasibility study is planned for 2022 to assess commercial viability, potentially leading to a groundbreaking joint venture.
Energy Transfer LP (NYSE:ET) reported robust financial results for Q2 2022, showing a net income of $1.33 billion, a $700 million increase year-over-year. Adjusted EBITDA rose to $3.23 billion, up from $2.62 billion in Q2 2021. The company also announced a quarterly cash distribution of $0.23 per unit, reflecting a 50% increase from the previous year. With ongoing construction of new facilities and strong demand in the Permian Basin, Energy Transfer expects full-year Adjusted EBITDA between $12.6 billion and $12.8 billion.
Sunoco LP (NYSE: SUN) reported second-quarter results with a net income of $121 million, down from $166 million the previous year. Adjusted EBITDA increased to $214 million, compared to $201 million a year prior, driven by higher fuel margins and volumes despite increased operating expenses. Distributable Cash Flow rose to $159 million, up from $145 million. The Board declared a distribution of $0.8255 per unit, supported by a distribution coverage of 1.83 times for the current quarter and 1.70 times over the last twelve months.
Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of
On July 26, 2022, Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q2 2022, translating to an annualized rate of $3.3020. This distribution will be disbursed on August 19, 2022, to unitholders recorded by August 8, 2022. Sunoco operates a vast network, distributing motor fuel to around 10,000 locations across over 40 U.S. states and territories, supported by refined product transportation assets. The general partner is owned by Energy Transfer LP (NYSE: ET).
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