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SUNOCO L.P. - SUN STOCK NEWS

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.

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Energy Transfer LP (NYSE: ET) has signed a 20-year LNG Sale and Purchase Agreement with Gunvor Singapore Pte Ltd, under which it will supply 2 million tonnes of LNG annually from its Lake Charles LNG facility. The pricing is tied to the Henry Hub benchmark plus a fixed liquefaction charge, with deliveries beginning as soon as 2026, contingent upon final investment decisions. This partnership aligns with Gunvor's strategy for securing low-cost resources, while Energy Transfer aims to enhance its operational progress towards finalizing investments.

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Energy Transfer LP (NYSE: ET) has announced a quarterly cash distribution of $0.20 per common unit for Q1 2022, a 30% increase compared to Q1 2021. This amounts to $0.80 annually, with payment scheduled for May 19, 2022. The company aims to adjust future distributions quarterly, targeting a return to $0.305 quarterly, while maintaining a leverage ratio between 4.0x-4.5x debt-to-EBITDA. Earnings will be released on May 4, 2022, followed by a conference call at 3:30 p.m. CT.

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Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q1 2022, equating to an annualized rate of $3.3020. This distribution will be paid on May 19, 2022 to common unitholders of record as of May 9, 2022. The company engages in motor fuel distribution across over 10,000 locations in more than 40 U.S. states. Notably, the general partner of Sunoco LP is owned by Energy Transfer LP (NYSE: ET).

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Energy Transfer LP (NYSE: ET) has announced its quarterly cash distributions for preferred units, effective May 16, 2022. Unitholders will receive $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E, payable to those on record as of May 2, 2022. The company operates a diversified energy asset portfolio across North America, including midstream natural gas and crude oil transportation. ET also holds significant stakes in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC).

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Energy Transfer LP (NYSE: ET) announced the upcoming release of its first-quarter 2022 earnings on May 4, 2022, after market close. A conference call will follow at 3:30 PM CT to discuss the results and provide updates. Investors can access the live webcast on energytransfer.com. Energy Transfer operates a diversified portfolio of energy assets across North America and holds significant interests in Sunoco LP (NYSE: SUN) and USA Compression Partners (NYSE: USAC).

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Sunoco LP (NYSE: SUN) has announced the release of its first quarter 2022 financial and operating results on May 4, 2022, before the market opens. A conference call will follow at 9:00 a.m. Central Time to discuss these results. Sunoco operates a vast network, supplying motor fuel to approximately 10,000 convenience stores across more than 40 U.S. states. SUN is a master limited partnership with significant assets in fuel distribution and transportation.

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Energy Transfer (NYSE: ET) is a national sponsor of the 10th Annual Carry The Load National Relay, honoring military, veterans, and first responders. The relay starts on April 28 in Seattle, covering 20,000 miles across 48 states, culminating in Dallas on Memorial Day weekend. Energy Transfer’s sponsorship will support transportation for participants, with an estimated 100,000 attendees expected. Carry The Load has raised $32.9 million to date for programs benefiting America's heroes. Co-CEO Mackie McCrea emphasized the company's commitment to supporting those who served.

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Energy Transfer LP (NYSE: ET) announced that ENN Natural Gas and ENN Energy Holdings have entered into two long-term LNG Sale and Purchase Agreements with ET LNG related to the Lake Charles LNG project. ET LNG will supply 1.8 million tonnes to ENN NG and 0.9 million tonnes to ENN Energy annually. The contracts are set for 20 years and will take effect upon reaching a final investment decision (FID). This partnership aims to enhance ENN's LNG resources and responds to rising domestic natural gas demand.

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Sunoco LP (NYSE: SUN) filed its annual report on Form 10-K for the fiscal year ending December 31, 2021, with the U.S. Securities and Exchange Commission on February 18, 2022. The report is accessible in the Investor Relations section of the Partnership's website. Sunoco LP operates in the distribution of motor fuel to approximately 10,000 locations across the U.S. and has transportation and terminalling assets. Unitholders can request a printed copy of the report free of charge through email or online forms.

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Energy Transfer LP (NYSE: ET) announced the sale of its 51% interest in Energy Transfer Canada ULC for approximately C$1.6 billion (US$1.3 billion). The joint venture includes Pembina Pipeline Corporation and KKR, expected to close by Q3 2022. Energy Transfer anticipates cash proceeds of about C$340 million (US$270 million). This divestiture enables the company to strengthen its balance sheet and reinvest in its core U.S. operations, leveraging its extensive energy infrastructure.

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FAQ

What is the current stock price of SUNOCO L.P. (SUN)?

The current stock price of SUNOCO L.P. (SUN) is $51.99 as of December 24, 2024.

What is the market cap of SUNOCO L.P. (SUN)?

The market cap of SUNOCO L.P. (SUN) is approximately 7.1B.

What does Sunoco LP do?

Sunoco LP distributes motor fuels to independent dealers, distributors, commercial customers, and end-use customers at retail sites.

Where does Sunoco LP operate?

Sunoco LP operates across 47 U.S. states, Puerto Rico, Europe, and Mexico.

Who owns Sunoco LP?

Sunoco LP's general partner is owned by Energy Transfer LP (NYSE: ET).

What are Sunoco LP's key brands?

Key brands include APlus, Stripes, Aloha Island Mart, and Tigermarket.

What is Sunoco LP's relationship with NASCAR?

Sunoco LP is the official fuel of NASCAR®, providing gasoline for over 50 racing series, including NASCAR's Sprint Cup Series™, Nationwide Series™, and Camping World Truck Series™.

How did Sunoco LP perform financially in the first quarter of 2024?

Sunoco LP reported a net income of $230 million and sold over 2.1 billion gallons of fuel, a 9% increase from the first quarter of 2023.

What recent acquisitions has Sunoco LP completed?

In 2024, Sunoco LP acquired liquid fuel terminals from Zenith Energy, enhancing its supply chain efficiencies.

What divestitures has Sunoco LP made recently?

Sunoco LP divested 204 convenience stores to 7-Eleven, Inc. in April 2024.

What is Sunoco LP's credit rating?

As of May 2024, S&P Global Ratings raised Sunoco LP's issuer credit rating to BB+ and Moody's Ratings raised its Corporate Family Rating to Ba1.

How does Sunoco LP contribute to the energy market?

Sunoco LP contributes by distributing motor fuel, operating midstream assets, and maintaining an extensive logistics network supporting the energy market.

SUNOCO L.P.

NYSE:SUN

SUN Rankings

SUN Stock Data

7.07B
106.77M
21.37%
43.31%
1.28%
Oil & Gas Refining & Marketing
Petroleum Refining
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United States of America
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