Sunoco LP (SUN) ended the recent trading session at $51.70, demonstrating a -0.02% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.92%. Meanwhile, the Dow lost 0.96%, and the Nasdaq, a tech-heavy index, lost 1.6%.

The master limited partnership's shares have seen a decrease of 3.83% over the last month, surpassing the Oils-Energy sector's loss of 9.71% and falling behind the S&P 500's gain of 2.68%.

The upcoming earnings release of Sunoco LP will be of great interest to investors. The company's earnings report is expected on November 6, 2024. The company is expected to report EPS of $1.53, down 48.14% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $5.97 billion, indicating a 5.58% decrease compared to the same quarter of the previous 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.

Investors should also note any recent changes to analyst estimates for Sunoco LP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Sunoco LP holds a Zacks Rank of #3 (Hold).

With respect to valuation, Sunoco LP is currently being traded at a Forward P/E ratio of 5.57. Its industry sports an average Forward P/E of 18.26, so one might conclude that Sunoco LP is trading at a discount comparatively.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 102, finds itself in the top 41% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.