Sunoco LP (SUN) closed the latest trading day at $53.37, indicating a -0.74% change from the previous session's end. This change lagged the S&P 500's 0.19% loss on the day. Meanwhile, the Dow lost 0.7%, and the Nasdaq, a tech-heavy index, added 0.04%.

Prior to today's trading, shares of the master limited partnership had 0% over the past month. This has was narrower than the Oils-Energy sector's loss of 0.03% and lagged the S&P 500's gain of 1.95% in that time.

The investment community will be closely monitoring the performance of Sunoco LP in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.56, reflecting a 47.12% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.97 billion, reflecting a 5.58% fall from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $9.29 per share and revenue of $23.72 billion, which would represent changes of +154.52% and +2.82%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sunoco LP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has shifted 15.49% upward. Sunoco LP is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Sunoco LP currently has a Forward P/E ratio of 5.79. This expresses a discount compared to the average Forward P/E of 20.07 of its industry.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 209, positioning it in the bottom 18% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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