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Sunoco LP (SUN) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Sunoco LP (SUN - Free Report) closed at $41.04, marking a -0.75% move from the previous day. This change lagged the S&P 500's daily loss of 0.51%.

Heading into today, shares of the master limited partnership had gained 10.98% over the past month, lagging the Oils-Energy sector's gain of 12.12% and outpacing the S&P 500's gain of 3.08% in that time.

Wall Street will be looking for positivity from SUN as it approaches its next earnings report date. This is expected to be November 3, 2021. On that day, SUN is projected to report earnings of $1.17 per share, which would represent year-over-year growth of 21.88%. Meanwhile, our latest consensus estimate is calling for revenue of $4.34 billion, up 54.67% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $6.01 per share and revenue of $16.42 billion, which would represent changes of +690.79% and +53.32%, respectively, from the prior year.

Any recent changes to analyst estimates for SUN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.04% higher. SUN is currently a Zacks Rank #2 (Buy).

Digging into valuation, SUN currently has a Forward P/E ratio of 6.88. For comparison, its industry has an average Forward P/E of 19.95, which means SUN is trading at a discount to the group.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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