Has Sunoco LP Finally Turned a Corner After Its Major Asset Sale?

Around this time last year, Sunoco LP (NYSE: SUN)announced a transformative divestment. The sale of its extensive retail filling stationnetwork to convenience store specialist 7-Eleven was going to give management the cash it needed to clean up its balance sheet and provide it with a much more stable revenue source.

One would have assumed that when the company made this transaction, Wall Street would reward the stock with a higher valuation. That hasn't been the case, though, as Sunoco's stock is still languishing with a sky-high distribution yield north of 12%.