Wells Fargo Reiterates Underweight Rating on Sunoco (SUN) After Earnings

May 7, 2021 9:21 AM EDT
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Price: $37.95 -0.58%

Rating Summary:
    6 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 20
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Wells Fargo analyst Ned Baramov reiterated an Underweight rating on Sunoco (NYSE: SUN) after Adjusted EBITDA of $157MM fell below Consensus of $161MM due to lower fuel gallons sold (1,760MM gal vs. 1,824MMgal) and lower than expected margin per gallon ($0.103/gal vs $0.11/gal). Management maintained the quarterly distribution of $0.8255/unit. FCF after distributions was ($10MM).

The analyst stated "Q1 results were below our estimates but essentially in line with consensus. Thepartnership rearmed 2021 guidance. We expect a neutral stock reaction."

For an analyst ratings summary and ratings history on Sunoco click here. For more ratings news on Sunoco click here.

Shares of Sunoco closed at $35.93 yesterday.

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