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) has filed its annual report on Form 10-K for the year ending December 31, 2021, with the SEC. The report, available on the company's website, includes audited financial statements and various other documents for unitholders. Energy Transfer operates a diverse energy asset portfolio in North America, including natural gas and crude oil transportation, storage, and NGL fractionation. The company also holds interests in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC).
Energy Transfer LP (NYSE: ET) reported a strong financial performance for Q4 2021, with net income of $921 million, up $412 million year-over-year. Adjusted EBITDA rose to $2.81 billion, driven by increased NGL transportation and higher commodity prices. Distributable Cash Flow increased to $1.60 billion. Growth capital expenditures are projected between $1.6 billion and $1.9 billion for 2022. The partnership completed significant projects, including the Mariner East and Gulf Run pipelines, and successfully integrated the Enable acquisition, expected to yield over $100 million in annual cost efficiencies.
Sunoco LP (NYSE: SUN) reported financial results for Q4 and FY 2021. For Q4 2021, net income rose to $100 million from $83 million a year ago, with Adjusted EBITDA at $198 million, up from $159 million. Fuel sales increased by 3.1% to 1.9 billion gallons, resulting in a fuel margin increase to 12.0 cents per gallon. Full-year net income hit $524 million, with an Adjusted EBITDA of $754 million. The board declared a distribution of $0.8255 per unit for Q4. Looking ahead, 2022 Adjusted EBITDA is expected between $770 and $810 million.
Sunoco LP (NYSE: SUN) declared a quarterly distribution of $0.8255 per common unit for Q4 2021, amounting to an annualized $3.3020. The payment will be made on February 18, 2022, to unitholders recorded by February 8, 2022. The company will also release its fourth quarter financial results before the market opens on February 16, 2022, followed by a conference call at 9:00 a.m. CT to discuss the outcomes. Sunoco operates in fuel distribution across 40 U.S. states.
Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of $0.175 per common unit for Q4 2021, reflecting a 15% increase from the previous quarter. This distribution, payable on February 18, 2022, aims to return value to unitholders while maintaining a target leverage ratio of 4.0x-4.5x debt-to-EBITDA. The company plans to evaluate future distribution increases quarterly to eventually return to a quarterly level of $0.305. Earnings results for Q4 and full year 2021 will be released on February 16, 2022, followed by a conference call to discuss the outlook for 2022.
Energy Transfer LP (NYSE: ET) has announced quarterly cash distributions for its preferred units, amounting to
Energy Transfer LP (NYSE: ET) has appointed Dilanka Seimon as Vice President of Alternative Energy. Seimon, an industry veteran from BHP, will lead the development of alternative energy and carbon capture projects, focusing on ESG initiatives such as carbon offset programs. His extensive experience in the energy sector is anticipated to enhance Energy Transfer's efforts in renewable energy and sustainability.
Energy Transfer LP (NYSE: ET) announced plans to release its fourth quarter and full year 2021 earnings on February 16, 2022, after market close. A conference call will follow at 3:30 PM CT to discuss results and provide a 2022 outlook. Energy Transfer operates a large and diversified energy asset portfolio in the U.S., including natural gas and crude oil transportation, storage assets, and interests in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC).
Energy Transfer LP (NYSE:ET) released its 2020 Corporate Responsibility Report detailing operational results and safety initiatives across its business segments. The report emphasizes the company's commitment to pipeline safety, risk management, and emissions reduction, alongside its efforts in renewable energy. With over 114,000 miles of pipeline infrastructure across 41 states and Canada, Energy Transfer plays a vital role in transporting nearly 30% of the U.S. natural gas and oil supply.
Sunoco LP (NYSE: SUN) announced its 2022 operational and financial guidance on December 6, 2021. The Partnership operates in fuel distribution to around 10,000 locations across more than 30 states and is a master limited partnership. A presentation detailing this guidance is available on their website. Additionally, SUN will engage with the investment community at the Wells Fargo Midstream Symposium on December 9, 2021. Forward-looking statements reflect potential risks, including impacts from COVID-19 and commodity price volatility.
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