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Sunoco LP (SUN) is a Top-Ranked Momentum Stock: Should You Buy?

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

Sunoco LP (SUN)

Headquartered in Dallas, TX, Sunoco LP is a master limited partnership (MLP). The partnership’s prime business comprises the distribution of motor fuel to roughly 10,000 customers that include independent dealers, commercial customers, convenience stores as well as distributors. The customers are based in more than 30 states. Sunoco GP LLC, a general partner of the partnership, is owned by Energy Transfer Operating LP — an affiliate of Energy Transfer LP.

SUN boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Sunoco LP has seen some interesting price action recently; the stock is up 2.8% over the past one week and up 3.5% over the past four weeks. And in the last one-year period, SUN has gained 28.6%. As for the stock's trading volume, 325,029.56 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, two analysts revised their earnings estimate higher in the last 60 days for SUN, while the Zacks Consensus Estimate has increased $0.96 to $5.19 per share. SUN also boasts an average earnings surprise of 28.3%.

Investors should take the time to consider SUN for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Sunoco LP (SUN) : Free Stock Analysis Report

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Zacks Investment Research

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