This stock has a very well-covered 13%-plus dividend yield. It has 11 straight dividend hikes and a rapidly expanding retail presence into higher-margin products. It's selling at a 25% discount to book value and is over 45% below analysts' lowest price target. Looking for a way to take advantage of market mispricing? Many of our recent articles have covered beaten-down high dividend stocks which are priced way below analysts' price targets, and this article's focus stock certainly fits that bill.
Sunoco (NYSE:SUN) is a growth-oriented Master Limited Partnership (MLP) that distributes motor fuel to convenience stores, independent dealers, commercial customers and distributors, and also owns C-stores. The company was formerly known as Susser Petroleum Partners LP, and changed its name to Sunoco Partners LP in October 2014. SUN has quickly become a major player in the US retail convenience store/gas station industry via organic acquisitions and strategic dropdowns from its parent/partner companies, Energy Transfer Partners (NYSE:ETP) and Energy Transfer Equity (NYSE:ETE). SUN operates approximately 850 C-stores and retail fuel sites.
Source: Seeking Alpha
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