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Sunoco LP (NYSE:SUN) said it expects FY 2023 adjusted EBITDA of $850M-$900M, according to a new investor presentation, beating the analyst consensus estimate of ~$800M.
The partnership also sees fuel volume of ~7.8B gallons, fuel margin of ~12 CPG, total operating expenses of $525M-$535M, and growth capital of at least $150M.
Sunoco (SUN) said its 1.8x coverage ratio in Q3 underpins the sustainability of its $3.30/unit annual distribution; it seeks to maintain a coverage target of at least 1.4x with a long-term leverage target of 4x.
Sunoco LP (SUN) offers an attractive dividend yield of more than 7.5%, backed by strong cash flows, RCK Analytics writes in an analysis published recently on Seeking Alpha.
Image and article originally from seekingalpha.com. Read the original article here.