Today, 8:39 AM
- Sunoco's (NYSE:SUN) general partner appoints Thomas Miller as its new CFO, effective May 9.
- Miller most recently served as senior VP, CFO and Treasurer of Cleco beginning in 2013; prior to Cleco, he spent time with Solar Trust of America, Exelon and Conoco.
- Now read Sunoco a Buy at J.P. Morgan as "top defensive pick" for low gasoline prices
Yesterday, 5:35 PM
- AGO, ALDW, ALIM, ALJ, ALL, ANDE, ARCW, AREX, ARRS, ATO, AUY, AWK, AWR, BNFT, BREW, BRKR, CB, CBPO, CCRN, CDI, CECO, CENT, CF, CLR, CODI, CONE, CPE, CPSI, CSII, CSOD, CTL, CTLT, CUZ, CW, CWST, CXO, CXW, DAC, DOX, DPM, DVA, ECR, EPM, EQC, EQIX, ES, ETE, ETP, EXEL, FEIC, FICO, FIT, FLT, FLTX, FNV, FOXA, FRPT, FRSH, FRT, GDDY, GDOT, GHDX, GIL, GPOR, GTY, HABT, HASI, HDP, HIL, HIVE, HOS, HR, HRTG, HUBS, IAC, INFI, IO, IRG, JONE, KHC, KND, KONA, KTOS, KW, LGCY, LHCG, LNC, LNT, LPI, LPSN, LXU, MAA, MASI, MATX, MCHP, MCK, MED, MET, MHLD, MNR, MRO, MTRX, MTW, MUR, NCMI, NLY, NVAX, OHI, OME, ORA, OREX, OSUR, PAA, PAGP, PDLI, PE, PEIX, PHH, PNNT, PRI, PRU, QRVO, QUIK, RICE, RIG, RLJ, RLYP, RP, RRTS, RST, RYN, SBY, SKUL, SQNM, SRC, SUN, SWM, SXL, SZYM, TASR, TCAP, TEAR, THG, TLLP, TPC, TPUB, TRIP, TROX, TSLA, TSLX, TSO, TWO, VECO, VNDA, VRNS, WBMD, WFM, WFT, WGL, WMB, WMGI, WPG, WPX, WTI, WTS, WTW, XEC, XOXO, YUME, ZNGA
Tue, Apr. 26, 7:28 AM
Fri, Apr. 15, 11:48 AM
- Sunoco (SUN -0.9%) is maintained with an Overweight rating and $48 price target at J.P. Morgan, which identifies the company as its “top defensive pick for an era of low gasoline prices."
- J.P. Morgan thinks SUN’s Q1 stock performance was soft in part due to the uncertainty clouding the other Energy Transfer entities - which could continue until the completion of the proposed ETE-WMB merger - but volatility will fade over time “as investors gain appreciation for the wide separation between SUN and the rest of the Energy Transfer family."
- The firm recommends purchasing units on volatility-driven weakness, as SUN is poised to benefit from $6B-plus in investments made over the last 18 months.
- Now read Energy Transfer says it's not selling controlling interest in Sunoco
Wed, Mar. 16, 7:25 PM
- Energy Transfer Equity (NYSE:ETE) says it has no plans to sell its controlling interest in Sunoco (NYSE:SUN), even though it has received much interest from potential buyers since acquiring the company in 2012.
- SUN CEO Robert Owens says he expects his company to be part of ETE for some time; ETE has a controlling interest in the gas station and convenience store operator as well as a 36.4% stake.
- ETE and SUN are responding to a Reuters report last week that the pipeline company had held talks about selling its controlling interest in SUN as well as the 36.4% stake.
Fri, Mar. 11, 11:19 PM
- Energy Transfer Equity (NYSE:ETE) has held talks to sell gas station and convenience store operator Sunoco (NYSE:SUN), in a deal that could fetch more than $2B, Reuters reports.
- A 36.4% stake in the limited partnership in SUN owned by Energy Transfer Partners (NYSE:ETP) also would have been divested, according to the report.
- While the discussions were preliminary, they show ETE's efforts to improve its balance sheet after the plunge in oil prices made its pending acquisition of Williams Cos. (NYSE:WMB) more financially burdensome than it had expected.
- The talks about a sale reportedly did not advance further because of disagreements over SUN's valuation, but ETE could still revisit the issue if it receives new interest.
- Mentioned in the report as potential buyers of SUN's network of 900 convenience stores and fuel outlets are Valero Energy (NYSE:VLO), Tesoro (NYSE:TSO) and Alimentation Couche-Tard (OTCPK:ANCUF).
Wed, Mar. 9, 2:58 PM
- Colonial Pipeline’s unwillingness to expand its pipelines that run between Texas and New Jersey is raising the cost of fuel, companies told the FERC at a meeting held to discuss Colonial's proposal to change the rules on its pipeline.
- Colonial’s 5,500-mile pipeline system, an essential energy transportation artery to the U.S. northeast, has been full since 2012, so some longtime shippers do not get as much space to ship fuel as they need.
- Marathon Petroleum (NYSE:MPC) and American Airlines (NASDAQ:AAL) said at the meeting they have to buy fuel on the east coast because they cannot ship enough fuel on the pipeline.
- Gas station operators Sunoco (NYSE:SUN) and Murphy USA (NYSE:MUSA) told the commission they pay other companies for additional pipeline space.
- The pipeline is owned by Koch Industries, South Korea’s National Pension Service, KKR, Royal Dutch Shell (RDS.A, RDS.B) and others.
Tue, Mar. 1, 3:24 PM
- Credit Suisse adjusts its ratings for the MLPs in the Energy Transfer Equity (ETE -0.6%) family of companies, keeping its Outperform rating on Energy Transfer Partners (ETP +0.1%) and Sunoco (SUN +3.9%) but downgrading Sunoco Logistics Partners (SXL -0.5%) to Neutral on valuation.
- On ETP, the firm says management is focused on bringing its ~$9B backlog of growth projects into service and that the GP would be willing to support ETP if required to assure an investment-grade credit rating.
- Credit Suisse thinks ETP will maintain its current distribution level but sees SXL and SUN raising their distribution growth at slower rates.
- The firm's only mention of ETE's proposed merger with Williams Cos. (WMB +3%) is that ETE expects the merger to close in Q2 following approval by WMB shareholders.
Wed, Feb. 24, 10:24 PM
Tue, Feb. 23, 5:35 PM
- AAOI, ALDW, ALJ, AMSG, ANIK, AR, AWK, AWR, AXTI, BLDP, BWXT, CEMP, CHDN, CLGX, CLI, CLR, CRM, CSGP, CW, CWT, CXO, DAVE, DMRC, DOOR, DPM, DTLK, DYN, ECPG, EPR, EQY, ESV, ETE, ETP, FARO, FLTX, FOE, FRGI, FUEL, GDOT, GMED, GXP, HPQ, HTH, IL, IMAX, INN, KEYW, LB, LGCY, LQ, MMLP, MTDR, NFX, NLY, NSPH, NTES, OAS, PE, PHH, QEP, RATE, RBCN, RGR, RICE, RIG, RIGP, RLJ, RLYP, RSPP, SBY, SN, SPTN, SRC, SUN, SXL, TAL, TCAP, TILE, TNDM, TS, TSLX, TUMI, TXTR, VIPS, WES, WGP, WLL, WPX, WR, WSR, XPO, ZPIN
Tue, Jan. 26, 2:09 PM
- Sunoco LP (NYSE:SUN) declares $0.8013/share quarterly dividend, 7.5% increase from prior dividend of $0.7454.
- Forward yield 9.86%
- Payable Feb. 16; for shareholders of record Feb. 5; ex-div Feb. 3.
Dec. 10, 2015, 6:16 PM
- Marathon Petroleum's (NYSE:MPC) Speedway, Sunoco (NYSE:SUN) and Alimentation Couche-Tard (OTCPK:ANCUF) are among various groups interested in a potential acquisition of convenience store operator CST Brands (NYSE:CST), according to TheStreet.com.
- The report comes a day after Engine Capital sent a letter to CST's board requesting action to improve the company's business operations or launch a review of strategic alternatives, including the exploration of a sale.
Nov. 19, 2015, 10:44 AM
- Sunoco LP (SUN +2.2%) upgraded to Outperform from Neutral with a $57 price target, raised from $49, at Credit Suisse after a final $2.3B dropdown of Energy Transfer Partners’ combined 68% ownership of SUN's wholesale motor fuel business, along with 100% of the retail motor fuels and convenience stores business.
- The final dropdown came in larger than expected and well head of management's year-end 2016 time frame, Credit Suisse says, adding that the transaction takes SUN’s pro-forma recurring EBITDA to $750M from $500M, while management expects EBITDA growth of 6%-7% going forward.
- The firm says the deal structure removes the equity overhang which had plagued SUN units, and no further equity needs are expected in 2016.
Nov. 16, 2015, 7:30 AM
- Energy Transfer Partners (NYSE:ETP) agrees to sell its 68.4% stake in convenience store operator Sunoco LLC to Sunoco LP (NYSE:SUN) for ~$2.23B.
- SUN will pay ETP ~$2.2 billion in cash and issue ~5.7M common units valued at ~$194M.
- ETP will remain the largest unitholder of the retail business after the dropdown, with a ~46% interest.
Nov. 4, 2015, 10:14 PM
- Sunoco (NYSE:SUN): Q3 EPS of $0.53 misses by $0.02.
- Revenue of $4.48B (+67.8% Y/Y) beats by $1B.
Nov. 3, 2015, 5:35 PM
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Sunoco LP operates as a wholesale distributor of motor fuels. It operates through the Wholesale and Retail segments. The Wholesale segment purchases fuel from a number of refiners and supplies it to its retail, affiliates, independently-operated dealer stations, and to other end users of motor... More
Sector: Basic Materials
Industry: Oil & Gas Refining & Marketing
Country: United States
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