Jim Cramer on Sunoco: "Wish They Could Somehow Issue More Stock"

Sunoco LP (NYSE:SUN) is one of the stocks that Jim Cramer shed light on. A caller asked why the stock is so volatile, and Cramer said:

“This thing’s been up and down like crazy since it came public. It is ridiculous. And then they spun it off… It doesn’t have a good float, that’s the problem. There’s just not enough stock out there, and I wish they could somehow issue more stock. But remember, it’s 6.8% yield, and from what I can tell, that’s money, good.”

Sunoco (NYSE:SUN) distributes motor fuels and petroleum products to commercial and retail customers and offers convenience store services and leasing properties. The company operates pipeline and terminal networks for transporting, processing, and handling refined products and other fuels. In May, the company entered into a definitive agreement to acquire all outstanding shares of Parkland Corporation in a cash and equity deal valued at approximately $9.1 billion, including assumed debt. On June 25, Reuters reported that 93.46% of Parkland Corp shareholders voted in favor of the deal.

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Disclosure: None. This article is originally published at Insider Monkey.