Sunoco LP (SUN) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Apr 19, 2016.
Many Wall Street Analysts have commented on Sunoco LP. Sunoco LP was Downgraded by Jefferies to ” Hold” on Mar 22, 2016.
On the company’s financial health, Sunoco LP reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Nov 4, 2015. Analyst had a consensus of $0.62. The company had revenue of $4487.30 million for the quarter, compared to analysts expectations of $4078.68 million. The company’s revenue was up 243.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Sunoco LP opened for trading at $32.47 and hit $33.95 on the upside on Monday, eventually ending the session at $33.72, with a gain of 2.99% or 0.98 points. The heightened volatility saw the trading volume jump to 3,30,922 shares. Company has a market cap of $3,499 M.
In a different news, on Sep 11, 2015, Leta Mckinley (VP & Controller) purchased 780 shares at $36.46 per share price. According to the SEC, on Aug 19, 2015, K Rick Turner (director) purchased 3,000 shares at $40.08 per share price.
Sunoco LP formerly Susser Petroleum Partners LP is engaged in the fee-based wholesale distribution of motor fuels to Susser and third parties in Texas New Mexico Oklahoma Louisiana Kansas Maryland Virginia Tennessee Georgia and Hawaii. The Company is also engaged in the retail sale of motor fuel and the operation of convenience stores through its subsidiaries. It operates in two segments: Wholesale operations segment which sells motor fuel to its retail segment and external customers and Retail operations segment which operates convenience stores selling a variety of merchandise food items services and motor fuel. It operates through its subsidiaries: Susser Petroleum Operating Company LLC T&C Wholesale LLC Susser Energy Services LLC Susser Petroleum Property Company LLC Southside Oil LLC and Aloha Petroleum Ltd among others. It distributes motor fuel under the Chevron Citgo Conoco Exxon Mobil Phillips66 Shamrock Texaco and Mahalo brands among others.