Sunoco (NYSE: SUN) took its investors on a wild ride in 2020. The fuel distribution company lost nearly 60% of its value in March as it nosedived along with the broader market. While it has since recovered most of that loss, units of the master limited partnership (MLP) were still down about 8% on the year. Because of that, it significantly underperformed the S&P 500 even after adding in its monster 11.7%-yielding dividend.
With a lower share price and a big-time yield, investors might wonder whether the beaten-down energy stock is worth buying. Here’s a look at the case for and against buying Sunoco these days.