Forget Sunoco LP: These 3 Stocks Are Better Buys
While Sunoco LP (NYSE: SUN) currently yields a jaw-dropping 10.9%, that payout is on shaky ground. Not only does the company distribute nearly all its available cash flow to unitholders, since its coverage ratio has averaged 1.03 times this year, but it has a pile of debt on its balance sheet, evidenced by a concerning leverage ratio that was 5.97 times at the end of last quarter. The company, however, is in the process of shoring up its financial situation by selling its convenience-store business in a $3.3 billion deal to 7-Eleven.
That said, even with that looming catalyst on the horizon, there are better options out there for income-seeking investors. Three better buys, in my opinion, are Phillips 66 Partners (NYSE: PSXP), MPLX (NYSE: MPLX), and Summit Midstream Partners (NYSE: SMLP).
Image source: Getty Images.
Source: Fool.com
Exxon Mobil Corp. Aktie
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