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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.
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).
Energy Transfer LP (ET) has announced its quarterly cash distributions for Series C, D, and E Preferred Units. The payments are
Sunoco LP (NYSE: SUN) will release its Q2 2022 financial results on August 3, 2022, before the market opens. A conference call to discuss the results is scheduled for 9:00 a.m. CT (10:00 a.m. ET) on the same day. Investors can join the call by dialing 877-407-6184 or through a webcast available on the company's Investor Relations website. Sunoco operates in the distribution of motor fuel across approximately 10,000 locations in over 40 U.S. states.
Energy Transfer LP (NYSE: ET) will announce its second-quarter earnings on August 3, 2022, after market close. A conference call will follow at 3:30 p.m. CT to discuss results and provide updates. Energy Transfer operates a large, diversified energy asset portfolio across major U.S. production basins, including natural gas and crude oil transportation and storage. The company also holds interests in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC). Further details and the webcast can be accessed on energytransfer.com.
Energy Transfer has entered a significant 25-year LNG Sale and Purchase Agreement with China Gas, marking the latter's first long-term LNG contract. This deal involves supplying 0.7 million tonnes of LNG annually, starting in 2026, with prices linked to the Henry Hub benchmark. This agreement increases Energy Transfer's contracted LNG from the Lake Charles LNG facility to nearly 6 million tonnes per annum. The project has secured all necessary construction permits and aims to achieve a Final Investment Decision (FID) later this year.
Energy Transfer LP (NYSE:ET) reported net income of $1.27 billion for Q1 2022, translating to $0.38 per limited partner unit. Adjusted EBITDA fell to $3.34 billion from $5.04 billion in Q1 2021, primarily due to the impact of Winter Storm Uri. Distributable Cash Flow decreased to $2.08 billion from $3.91 billion. The partnership saw increased transportation volumes and continued investment in infrastructure projects, including the new Grey Wolf processing plant and Gulf Run Pipeline. A 30% increase in quarterly distributions to $0.20 per unit was announced, with future increases under consideration.
Sunoco LP reported a robust first quarter for 2022 with net income of $216 million, up from $154 million year-over-year. Adjusted EBITDA reached $191 million, driven by increased fuel margins and volumes, alongside a recent acquisition of nine refined products terminals. The partnership has raised its full-year Adjusted EBITDA guidance to $795-$835 million. Significant milestones included starting operations at the Brownsville terminal and acquiring a transmix processing facility for $190 million. The distribution announced is $0.8255 per unit.
Energy Transfer LP has signed a long-term Sale and Purchase Agreement with SK Gas Trading LLC to supply 0.4 million tonnes per annum of LNG from its Lake Charles LNG export facility for 18 years. The deal, with deliveries starting in 2026, is tied to the Henry Hub benchmark price plus a fixed liquefaction charge. This agreement brings Energy Transfer's total LNG contracts from the Lake Charles facility to 5.1 mtpa, highlighting increased international interest in U.S. LNG exports.
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