Value investing is always a very popular strategy, and for good reason. After all, who doesn’t want to find stocks that have low PEs, solid outlooks, and decent dividends?

Fortunately for investors looking for this combination, we have identified a strong candidate which may be an impressive value; Sunoco LP (SUN Quick QuoteSUN - Free Report) .

Sunoco in Focus

SUN may be an interesting play thanks to its forward PE of 7.89, its P/S ratio of 0.15, and its decent dividend yield of 13.3%. These factors suggest that Sunoco is a pretty good value pick, as investors have to pay a relatively low level for each dollar of earnings, and that SUN has decent revenue metrics to back up its earnings.

But before you think that Sunoco is just a pure value play, it is important to note that it has been seeing solid activity on the earnings estimate front as well. For current year earnings, the consensus has gone up by 7.5% in the past 60 days, thanks to four upward revisions in the past two months compared to none lower.

This estimate strength is actually enough to push SUN to a Zacks Rank #1 (Strong Buy), suggesting it is poised to outperform. You can see the complete list of today’s Zacks #1 Rank stocks here.

So really, Sunoco is looking great from a number of angles thanks to its PE below 20, a P/S ratio below one, and a strong Zacks Rank, meaning that this company could be a great choice for value investors at this time.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>