Streetbeat News

AMZA

InfraCap MLP ETF

http://www.virtus.com/products/infracap-mlp-etf#shareclass.618/period.quarterly

Industry

Asset Management

Under normal market conditions, the fund will invest not less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of MLPs in the energy infrastructure sector. It is non-diversified.

Open

42.20

Mkt cap

376M

Volume

64K

High

42.38

P/E Ratio

15.31

52-wk high

43.08

Low

41.62

Div yield

0.07

52-wk low

34.18

Sunoco LP (NYSE:SUN) reported strong Q2 FY24 results, with revenues of $6.17 billion surpassing the consensus of $5.82 billion. The company sold over 2.2 billion gallons of fuel, with a slight decrease in fuel margin. Adjusted distributable cash flow and EBITDA saw significant increases. EPS of $3.85 exceeded expectations. Sunoco declared a distribution of $0.8756 per unit and reaffirmed its FY24 guidance. The company also formed a joint venture with Energy Transfer LP (NYSE:ET) and expects significant synergies from the NuStar deal. Investors can gain exposure via InfraCap MLP ETF (NYSE:AMZA) and Global X MLP ETF (NYSE:MLPA).

Portfolio Pulse from Lekha Gupta

August 07, 2024 | 3:02 pm

Stifel analyst Selman Akyol upgraded Sunoco LP (NYSE:SUN) to Buy from Hold, citing a 13% price drop since mid-February and upcoming guidance as catalysts. The guidance, expected around Q2 FY24 earnings, will provide updates on Sunoco's legacy business, NuStar assets, and potential synergies. Akyol estimates EBITDA of $1.48 billion in FY24 and $1.79 billion in FY25. Investors can also gain exposure via InfraCap MLP ETF (NYSE:AMZA) and Global X MLP ETF (NYSE:MLPA).

Portfolio Pulse from Lekha Gupta

June 07, 2024 | 4:29 pm

Sunoco LP reported first-quarter FY24 revenues of $5.50 billion, surpassing the consensus of $5.23 billion, with a 9% Y/Y increase in fuel sales volume and a slight decrease in fuel margin. Adjusted distributable cash flow and EBITDA also saw increases from the previous year. The company beat EPS estimates with $2.26 versus the consensus of $1.22. Sunoco announced a 4% increase in its quarterly distribution to $0.8756 per unit and revised its FY24 EBITDA guidance upwards, reflecting recent acquisitions and divestitures. The company's long-term debt stands at $3.8 billion, with $870 million in liquidity. Sunoco's stock price saw a slight increase, and its performance can also impact InfraCap MLP ETF and Global X MLP ETF.

Portfolio Pulse from Lekha Gupta

May 08, 2024 | 4:58 pm

Plains All American Pipeline, L.P. (NASDAQ:PAA) reported Q3 earnings with revenue of $11.995 billion, missing expectations but with flat Y/Y adjusted EBITDA at $718 million. The Crude Oil Segment saw a 7% increase in adjusted EBITDA, while the NGL Segment experienced a 17% decrease. Adjusted earnings per unit were $0.41, beating consensus. The company announced a 19% increase in annualized common distribution to $1.27 per unit and expects flat adjusted EBITDA in 2026 for the Crude Oil segment. PAA shares rose 1.68% to $17.52. Exposure to PAA can also be gained through InfraCap MLP ETF (NYSE:AMZA) and Alerian MLP ETF (NYSE:AMLP).

Portfolio Pulse from Lekha Gupta

May 03, 2024 | 3:07 pm

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