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Sunoco Inc. (SUN)

  • Yesterday, 6:19 PM
    • Morgan Stanley’s MLP analysts initiate coverage of eight major dropdown MLPs, citing attractive attributes such as high-quality asset bases, magnitude and sustainability of growth, and strong and supportive sponsorship.
    • Lead analyst Brian Lasky's top pick in the group is Dominion Midstream Partners (NYSE:DM), which he says warrants a premium valuation to midstream industry and sponsor-backed dropdown peers based on its top-tier distribution growth rate, strong sponsor commitment, depth of inventory, and - most important - strategic asset positioning, with an ability to replenish its inventory.
    • Lasky says these MLPs and their sponsors also have surprised to the upside, positioning the companies for attractive growth and visibility: AM, CNNX, CPPL, EQM, SUN, TLLP, VLP.
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  • Thu, May 7, 8:38 AM
    • Sunoco (NYSE:SUN) declares $0.645/share quarterly dividend, 7.5% increase from prior dividend of $0.60.
    • Forward yield 5.05%
    • Payable May 29; for shareholders of record May 19; ex-div May 15.
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  • Thu, May 7, 1:11 AM
    • Sunoco (NYSE:SUN): Q1 EPS of $0.44 misses by $0.19.
    • Revenue of $1.13B (-7.4% Y/Y) misses by $20M.
    • Press Release
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  • Mon, Mar. 23, 11:18 AM
    • Sunoco (SUN +1.1%) reaches a deal in which Energy Transfer Partners (ETP +0.1%) will drop down a second portion of ETP’s retail business to SUN in an $816M deal, which includes a 31.58% equity interest in the retail business that distributes ~5.3B gallons/year of motor fuel to much of the U.S.
    • SUN will pay $775M in cash and issue $40.8M of its common units to ETP; to fund the cash portion of the transaction, SUN is offering $800M of senior notes.
    • SUN says the deal gives it new exposure to customers in 26 states in the east, southeast and midwest U.S. and will complement its current base of wholesale customers in the southwest and Hawaii.
  • Wed, Feb. 18, 10:38 PM
    • Sunoco (NYSE:SUN): Q4 EPS of $0.83 beats by $0.24.
    • Revenue of $1.34B (+20.7% Y/Y) misses by $360M.
    • Press Release
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  • Tue, Feb. 17, 5:35 PM
  • Mon, Feb. 2, 4:42 PM
    • Sunoco (NYSE:SUN) declares $0.60/share quarterly dividend, 10% increase from prior dividend of $0.5457.
    • Forward yield 4.72%
    • Payable Feb. 27; for shareholders of record Feb. 17; ex-div Feb. 12.
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  • Thu, Jan. 22, 2:49 PM
    • Sunoco (SUN +1.5%) is resumed with an Equal Weight rating and $54 price target at Barclays, which says SUN benefits from relatively stable cash flows bolstered by long-term fee-based contracts for a significant portion of its business, consistent fuel margins and the support of its Energy Transfer Partners parent.
    • The firm believes SUN is well-positioned to post 12.5% growth from a $4B-$4.5B dropdown inventory, organic capex and third-party acquisitions amid a fragmented end market, but that favorable growth prospects are somewhat reflected in SUN's price.
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  • Dec. 4, 2014, 11:59 AM
    • Energy Transfer Partners (ETP -0.3%) is upgraded to Outperform from Neutral with a $77 price target, up from $65, at Baird, which cites progress made at the partnership and beating the firm's estimates for three straight quarters.
    • After another mega-model rebuild, Baird revises forecasts and valuations for the Energy Transfer family of partnerships - ETP, ETE, RGP, SUN and SXL - with SXL likely boasting the best fundamentals tailwinds with a return to crude oil contango.
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  • Nov. 5, 2014, 6:33 PM
    • Sunoco (NYSE:SUN): Q3 EPS of $0.44 misses by $0.06.
    • Revenue of $1.17B (-2.5% Y/Y) misses by $230M.
    • Press Release
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  • Oct. 27, 2014, 9:13 AM
    • Susser Petroleum Partners (NYSE:SUSP) has changed its name to Sunoco (NYSE:SUN), and its ticker symbol is changing to SUN from SUSP, effective immediately.
    • Energy Transfer Partners announced in April that it was buying Susser Holdings, giving ETP ownership of the general partner interest and incentive distribution rights in SUSP, ~11M SUSP common units and Susser Holdings' retail operations consisting of Stripes and Sac-N-Pac convenience stores in New Mexico, Oklahoma and Texas.
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  • Oct. 21, 2014, 7:56 AM
    • Susser Petroleum Partners (NYSE:SUSP) announces a public offering of 8M common units, with an underwriters option to purchase up to 1.2M additional units.
    • SUSP plans to use the proceeds to pay down debt and for general partnership purposes.
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  • Sep. 26, 2014, 8:31 AM
    • Susser Petroleum Partners (NYSE:SUSP) announces a series of strategic moves: It agrees to acquire Mid-Atlantic Convenience Stores from Energy Transfer Partners (NYSE:ETP) for $768M, agrees to acquire Hawaii-based Aloha Petroleum, closes a new $1.25B revolving credit facility, and plans to change its name to Sunoco LP.
    • In the first dropdown transaction between the two companies, ETP will transfer some convenience store assets within the Sunoco corporate family to SUSP, including ~110 company-operated retail stores and 210 dealer-operated and consignment sites.
    • Aloha is the largest independent gasoline marketer and one of the largest convenience store operators in Hawaii, with ~100 fuel stations throughout the state, about half of which are company operated.
    • The name change includes a new ticker symbol - SUN - to align the partnership's name with that of Sunoco.
  • Aug. 18, 2014, 2:37 PM
    • Susser Petroleum Partners' (SUSP +3.3%) price target is raised to $57 from $48 at RBC Capital, which believes SUSP is poised for double-digit distribution growth over the next several years as Energy Transfer Partners' acquisition of SUSP's parent increases the inventory of dropdowns available to SUSP.
    • Greater scale and geographic diversity could better position SUSP to complete accretive third-party acquisitions, the firm says.
    • RBC rates the shares at Outperform.
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  • Aug. 12, 2014, 12:55 PM
    • Energy Transfer Equity (NYSE:ETE) could follow rival Kinder Morgan with its own rollup of a wide range of subsidiaries, Baird analysts say: ETE, Energy Transfer Partners (NYSE:ETP), Sunoco Logistics Partners (NYSE:SXL), Susser Petroleum Partners (NYSE:SUSP) and Regency Energy Partners (NYSE:RGP) "ultimately should be melded into one super-entity resembling pro forma KMI."
    • Baird notes, however, that "ETP's family is likely to get more rather than less complicated" with planned public offerings of two units after its plan to buy Targa Resources broke down in June.
  • Aug. 8, 2014, 6:07 AM
    • Susser Petroleum Partners (NYSE:SUSP): Q2 EPS of $0.43 misses by $0.12.
    • Revenue of $1.38B (+23.2% Y/Y) beats by $40M.
    • Press Release 
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Company Description
Sunoco LP is engaged in fee-based wholesale distribution of motor fuels to Susser & third parties. It is also engaged in retail sale of motor fuel. It operates in regions including Texas, Oklahoma, Louisiana, Kansas, Maryland, Virginia,Georgia& Hawaii.