Prediction: This Pipeline Stock's Payout Will Grow Faster Than Chevron's [or Exxon's] Over the Next 5 Years

The Texas Stock Exchange (TXSE) secured its first primary equity listings, with Energy Transfer, USA Compression Partners, Sunoco LP, and SunocoCorp LLC moving from the NYSE. The companies have a combined market cap of nearly $100 billion. TXSE aims to challenge NYSE and Nasdaq by leveraging Texas's business-friendly policies, though analysts note past attempts faced challenges.

Energy Transfer and three affiliates (ET, SUN, SUNC, USAC) plan to move their primary listings from the NYSE to the Texas Stock Exchange (TXSE), representing nearly $100 billion in market value. The move, effective in early October, marks the first major listing loss for the NYSE. TXSE, backed by major firms, aims to attract more listings and has updated index eligibility rules to facilitate the transition.

Sunoco LP agreed to buy Offen Petroleum in an all-cash deal valued at about $600M, to expand its U.S. fuel distribution network. Offen distributes about 2.5B gallons annually to ~7,000 customers and over 800 retail stations. Closing is expected in Q4 2026, pending regulatory approval.

Sunoco LP (SUN) agreed to buy Offen Petroleum for about $600 million in cash, according to the company. Sunoco said the deal would expand its fuel distribution footprint, serving about 2.5 billion gallons annually, roughly 7,000 customers, and over 800 retail stations. Sunoco reported $773 million cash at Q2 end and net debt to Adjusted EBITDA of about 3.7x.

Sunoco (NYSE:SUN) reported Q2 fuel distribution volumes of 4.1B gallons, up 9% sequentially and 89% year over year, with reported margin of 17.1 cents per gallon. Pipeline adjusted EBITDA was $190M and terminals $115M. Refinery adjusted EBITDA rose to $175M. CEO Joe Kim said 2026 EBITDA guidance will be materially exceeded, with revised range driven by refining uncertainty.

Sunoco LP (SUN) agreed to acquire fuel distributor Offen Petroleum in an all-cash deal valued at about $600 million. Offen supplies about 2.5 billion gallons annually to around 7,000 customers and operates over 800 retail stations. The deal is subject to regulatory approval and expected to close in Q4 2026.