Sunoco Spills the Beans: Big Beat, Higher Payout, & Brighter Outlook
- Financial Performance: Sunoco LP reported first-quarter FY24 revenues of $5.50 billion, surpassing expectations, with increased fuel sales and adjusted EBITDA.
- Distribution Increase: The company raised its quarterly distribution by 4% to $0.8756 per unit, reflecting confidence in financial performance.
- Debt and Liquidity: Sunoco had long-term debt of $3.8 billion as of March-end but maintained liquidity of approximately $870 million.
- Outlook and Acquisitions: Revised FY24 guidance for adjusted EBITDA, including acquisitions like NuStar, Zenith, and the sale of convenience stores to 7-Eleven.
- Investment Opportunities: Investors can access Sunoco shares through ETFs like InfraCap MLP ETF AMZA and Global X MLP ETF MLPA.
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Analyst Views on MLPA
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MLPA Surpasses Key Technical Benchmark
RSI Comparison: Global X MLP's RSI is at 28.9, indicating potential exhaustion of selling pressure, while the S&P 500's RSI is significantly higher at 65.9.
Stock Performance: MLPA's 52-week range is between $45.09 and $54.53, with the last trade at $47.25, reflecting a 1.4% decline for the day.
3 Dividend-Paying ETFs to Buy in July Even if the S&P 500 Sells Off
Investment Options: The article highlights three ETFs for passive income investors: Global X MLP ETF (7.5% yield), Schwab U.S. Dividend Equity ETF (3.8% yield with low expenses), and JP Morgan Nasdaq Equity Premium Income ETF (11.2% yield through options trading).
Market Context: As the S&P 500 reaches all-time highs, some investors may prefer diversified ETFs to mitigate risk and generate income without relying solely on stock price increases.
Global X MLP Breaks Above 200-Day Moving Average - Bullish for MLPA
Stock Performance: MLPA's stock has a 52-week low of $45.09 and a high of $54.53, with the last trade recorded at $50.31.
Author's Opinion Disclaimer: The views expressed in the article are solely those of the author and do not necessarily represent Nasdaq, Inc.
Oil Prices Ease: What It Means For Energy ETFs, Investors
Oil Price Trends: Oil prices fell 1% due to geopolitical changes and economic uncertainty, with potential easing of sanctions on Russian fuel exports following U.S.-Russia diplomatic talks. However, analysts caution that significant recovery in Russian oil output will take time.
Energy ETFs Overview: Various types of energy ETFs, including diversified, exploration and production, and midstream ETFs, offer investors exposure to the energy sector while managing risks associated with oil price volatility and geopolitical events.
Muni market is ‘moving toward ETFs.’ What are the risks and yields?
Municipal-Bond Market Insights: Morgan Stanley and BlackRock share their perspectives on investing in the municipal-bond market in this week's ETF Wrap.
Contact Information: Feedback and tips can be sent to the provided email addresses, and social media handles for the authors are also shared for further engagement.
ONEOK Spends $3B On EnLink Midstream Stake, $2.6B On Medallion
ONEOK's Acquisition of EnLink Midstream: ONEOK, Inc. is acquiring Global Infrastructure Partners' 43% stake in EnLink Midstream for $3 billion, along with additional interests for a total of approximately $3.3 billion, enhancing its gas processing and crude gathering capacities in the Permian Basin.
Market Impact and Future Plans: Following the acquisition, EnLink shares rose by 13.22%, and ONEOK anticipates achieving annual synergies of $250 million to $450 million within three years, supporting its $2 billion share repurchase program.
MLPA Surpasses Key Technical Benchmark
RSI Comparison: Global X MLP's RSI is at 28.9, indicating potential exhaustion of selling pressure, while the S&P 500's RSI is significantly higher at 65.9.
Stock Performance: MLPA's 52-week range is between $45.09 and $54.53, with the last trade at $47.25, reflecting a 1.4% decline for the day.
3 Dividend-Paying ETFs to Buy in July Even if the S&P 500 Sells Off
Investment Options: The article highlights three ETFs for passive income investors: Global X MLP ETF (7.5% yield), Schwab U.S. Dividend Equity ETF (3.8% yield with low expenses), and JP Morgan Nasdaq Equity Premium Income ETF (11.2% yield through options trading).
Market Context: As the S&P 500 reaches all-time highs, some investors may prefer diversified ETFs to mitigate risk and generate income without relying solely on stock price increases.
Global X MLP Breaks Above 200-Day Moving Average - Bullish for MLPA
Stock Performance: MLPA's stock has a 52-week low of $45.09 and a high of $54.53, with the last trade recorded at $50.31.
Author's Opinion Disclaimer: The views expressed in the article are solely those of the author and do not necessarily represent Nasdaq, Inc.
Oil Prices Ease: What It Means For Energy ETFs, Investors
Oil Price Trends: Oil prices fell 1% due to geopolitical changes and economic uncertainty, with potential easing of sanctions on Russian fuel exports following U.S.-Russia diplomatic talks. However, analysts caution that significant recovery in Russian oil output will take time.
Energy ETFs Overview: Various types of energy ETFs, including diversified, exploration and production, and midstream ETFs, offer investors exposure to the energy sector while managing risks associated with oil price volatility and geopolitical events.
Muni market is ‘moving toward ETFs.’ What are the risks and yields?
Municipal-Bond Market Insights: Morgan Stanley and BlackRock share their perspectives on investing in the municipal-bond market in this week's ETF Wrap.
Contact Information: Feedback and tips can be sent to the provided email addresses, and social media handles for the authors are also shared for further engagement.
ONEOK Spends $3B On EnLink Midstream Stake, $2.6B On Medallion
ONEOK's Acquisition of EnLink Midstream: ONEOK, Inc. is acquiring Global Infrastructure Partners' 43% stake in EnLink Midstream for $3 billion, along with additional interests for a total of approximately $3.3 billion, enhancing its gas processing and crude gathering capacities in the Permian Basin.
Market Impact and Future Plans: Following the acquisition, EnLink shares rose by 13.22%, and ONEOK anticipates achieving annual synergies of $250 million to $450 million within three years, supporting its $2 billion share repurchase program.
