Sunoco LP (SUN) Stock Sinks As Market Gains: What You Should Know

Sunoco LP (SUN) closed the most recent trading day at $64.97, moving -2.04% from the previous trading session. This change lagged the S&P 500's daily gain of 2.91%. Meanwhile, the Dow gained 2.49%, and the Nasdaq, a tech-heavy index, added 3.83%.

Shares of the master limited partnership witnessed a gain of 3.61% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 9.79%, and outperforming the S&P 500's loss of 7.64%.

Analysts and investors alike will be keeping a close eye on the performance of Sunoco LP in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.5, showcasing a 23.97% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $9.54 billion, reflecting a 84.22% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $7.96 per share and a revenue of $40.84 billion, demonstrating changes of +249.12% and +62.05%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunoco LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 30.28% higher within the past month. Sunoco LP currently has a Zacks Rank of #3 (Hold).

From a valuation perspective, Sunoco LP is currently exchanging hands at a Forward P/E ratio of 8.33. This denotes a discount relative to the industry average Forward P/E of 13.29.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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