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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.

News

Energy Transfer Announces Increase in Quarterly Cash Distribution

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Energy Transfer LP (ET) announced a 3.3% increase in its quarterly cash distribution for the fourth quarter of 2023, amounting to $0.3150 per Energy Transfer common unit. The distribution will be paid on February 20, 2024, to unitholders of record as of February 7, 2024. Additionally, the company plans to release its earnings for the fourth quarter and full year of 2023 on February 14, 2024, and will conduct a conference call to discuss quarterly results and provide an outlook for 2024. Energy Transfer LP is a publicly traded limited partnership with a diversified portfolio of energy assets in the United States.
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Energy Transfer LP Announces Cash Distributions on Series E and I Preferred Units

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Energy Transfer LP (ET) announced the redemption of its Series C and D preferred units at specified prices, along with the quarterly cash distributions for its Series E and I preferred units. The cash distribution for the Series E and Series I unitholders will be paid on February 15, 2024, to Series E and Series I unitholders of record as of the close of business on February 1, 2024. Energy Transfer LP is a publicly traded limited partnership with core operations in natural gas midstream, transportation and storage, crude oil, NGL, and refined product transportation and terminalling assets.
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Sunoco LP to Acquire NuStar Energy L.P. in Transaction Valued at $7.3 Billion

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Sunoco LP (NYSE: SUN) announced the acquisition of NuStar Energy L.P. (NYSE: NS) in an all-equity transaction valued at approximately $7.3 billion, including assumed debt. NuStar common unitholders will receive 0.400 Sunoco common units for each NuStar common unit, implying a 24% premium. The transaction is expected to close in the second quarter of 2024 and has been unanimously approved by the board of directors of both companies. Sunoco has secured a $1.6 billion 364-day bridge term loan to refinance NuStar’s Series A, B and C Preferred Units, Subordinated Notes, Revolving Credit Facility, and Receivables Financing Agreement. The acquisition is expected to increase stability, strengthen the financial foundation, enhance growth, and have a positive financial outlook.
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Sunoco LP to Acquire NuStar Energy L.P. in Transaction Valued at $7.3 Billion

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Sunoco LP (SUN) has announced the acquisition of NuStar Energy L.P. (NS) in an all-equity transaction valued at approximately $7.3 billion, including assumed debt. The deal will be finalized in the second quarter of 2024, pending approval from NuStar's unitholders and regulatory authorities. The acquisition aims to increase stability, strengthen the financial foundation, and enhance growth for Sunoco. It is expected to be immediately accretive with significant financial savings and synergies by the third year following the close.
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Sunoco LP Announces Fourth Quarter and Full Year 2023 Earnings Release and Call Timing

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Sunoco LP (SUN) to Release Q4 and Full Year 2023 Financial Results on February 14, 2024
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Energy Transfer Announces Fourth Quarter and Full Year 2023 Earnings Release and Earnings Call Timing

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Energy Transfer LP (NYSE: ET) plans to release earnings for Q4 and full year 2023 on February 14, 2024. The company will conduct a conference call to discuss quarterly results, provide a company update, and outlook for 2024. Energy Transfer owns one of the largest and most diversified portfolios of energy assets in the US, with 125,000 miles of pipeline and infrastructure across 44 states.
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Sunoco LP Announces Sale of West Texas Assets, Acquisition of European Liquid Fuels Terminals, and Reaffirms 2024 Adjusted EBITDA Guidance Range

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Sunoco LP (SUN) Announces $1.0 Billion Sale of Convenience Stores to 7-Eleven, Inc. and Intention to Acquire European Liquid Fuels Terminals
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Energy Transfer LP Announces Pricing of $3 Billion of Senior Notes and $800 Million of Fixed-to-Fixed Reset Rate Junior Subordinated Notes

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Energy Transfer LP (ET) announces the pricing of its concurrent offerings of senior notes and junior subordinated notes, expected to settle on January 25, 2024. The company plans to use the net proceeds of approximately $2.964 billion from the senior notes offering and $792 million from the junior subordinated notes offering to refinance existing indebtedness, including borrowings under its revolving credit facility, to redeem all of its outstanding Series C, D, and E preferred units, and for general partnership purposes.
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Energy Transfer LP Announces Public Offering of Senior Notes and Fixed-to-Fixed Reset Rate Junior Subordinated Notes and Redemption of Select Preferred Units

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Energy Transfer LP (ET) intends to offer senior notes due 2034 and senior notes due 2054, as well as fixed-to-fixed reset rate junior subordinated notes due 2054. The net proceeds will be used to refinance existing indebtedness, redeem outstanding preferred units, and for general partnership purposes.
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Sunoco LP Announces 2024 Operational and Financial Guidance

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Sunoco LP (NYSE: SUN) provided its operational and financial guidance for 2024, available on their website. SUN is a master limited partnership distributing motor fuel to 10,000+ locations in the US, with refined product transportation and terminalling assets. SUN's general partner is owned by Energy Transfer LP (NYSE: ET).
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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 $54.02 as of November 21, 2024.

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

The market cap of SUNOCO L.P. (SUN) is approximately 7.3B.

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.

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SUNOCO L.P.

NYSE:SUN

SUN Rankings

#1056 Ranked by Market Cap
#408 Ranked by Dividends

SUN Stock Data

7.28B
106.83M
21.37%
43.3%
0.99%
Oil & Gas Refining & Marketing
Petroleum Refining
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United States of America
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