$SUN

J.P. Morgan initiated coverage on Sunoco LP (SUN) with an Overweight rating and $87 price target, citing growth from the Parkland acquisition. Sunoco offers a 5.25% dividend yield but has a high payout ratio of 75%. The GF Value™ suggests the stock is undervalued, while the GF Score™ is 78/100, reflecting strong valuation and growth but weaker financial strength.

Wall Street analysts released research calls on various companies. Upgrades include Akamai (AKAM) to Strong Buy, BlackRock (BLK) to Buy, and Venture Global (VG) to Overweight. Downgrades include Apple (AAPL) to Hold, Elanco (ELAN) to Hold, and Zoetis (ZTS) to Hold. Initiations include Ford (F) with Overweight and Sunoco (SUN) with Overweight. Markets were mixed, with Nasdaq futures lower and Treasury yields higher.

Six energy companies are highlighted for their high dividend yields and strong cash flow. Enterprise Products Partners (EPD) yields 5.99%, Energy Transfer (ET) 6.49%, MPLX (MPLX) 7.51%, Western Midstream (WES) 7.97%, Plains All American (PAA) 6.83%, and Sunoco (SUN) 5.5%. All report record volumes and raised guidance, with varying growth projects and risks.

The Texas Stock Exchange (TXSE) launched, with Sunoco (SUN) and SunocoCorp (SUNC) transferring listings from NYSE. TXSE aims to compete with Nasdaq and NYSE, positioning Texas as a financial hub.

Shares of Valero Energy (VLO), Marathon Petroleum (MPC), Sunoco (SUN), and Phillips 66 (PSX) rose overnight after President Trump's executive order allowed temporary highway use of dyed diesel and deferred federal fuel tax. The move aims to lower fuel costs amid rising energy prices. VLO gained 0.67%, MPC 0.35%, SUN 3%, and PSX 1%. Analysts note limited impact on diesel prices due to state regulations and global supply issues.

Texas Stock Exchange (TXSE) began trading nearly $100B in corporate market value with listings from Energy Transfer (ET), Sunoco (SUN), SunocoCorp (SUNC), USA Compression Partners (USAC), and Dillard's (DDS). The move marks TXSE's entry into the corporate-listings market, competing with NYSE and Nasdaq.

The Supreme Court declined to hear Sunoco Inc.'s appeal of a $100M class-action judgment, with Justice Kavanaugh dissenting. Justice Alito recused himself due to a potential financial conflict. Kavanaugh also supported energy companies in a separate climate change lawsuit, citing federal jurisdiction.

September historically underperforms for U.S. equities, with indices like S&P 500, Dow, and Nasdaq showing average declines. This year, factors like high oil prices, rising Treasury yields, and Fed rate hike expectations add to market concerns. Zacks Investment Research recommends Archer-Daniels-Midland (ADM), Amgen (AMGN), and Sunoco LP (SUN) as defensive stocks with strong fundamentals and growth prospects.

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.