SunocoCorp (NYSE:SUNC) Sets New 52-Week High – Here’s What Happened

SunocoCorp LLC (NYSE:SUNC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $68.19 and last traded at $68.1950, with a volume of 185886 shares. The stock had previously closed at $66.09.

Wall Street Analysts Forecast Growth

SUNC has been the topic of a number of recent analyst reports. Zacks Research lowered shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 target price on shares of SunocoCorp in a research note on Wednesday, May 6th. Wall Street Zen upgraded SunocoCorp to a “hold” rating in a report on Saturday, February 28th. Finally, Citigroup lifted their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SunocoCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

SunocoCorp Stock Performance

The firm’s 50 day moving average price is $61.94.

SunocoCorp (NYSE:SUNC) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.66 by $0.47. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.56 billion. As a group, equities analysts predict that SunocoCorp LLC will post 6.88 earnings per share for the current year.

SunocoCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.9899 per share. The ex-dividend date is Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a yield of 5.8%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new stake in shares of SunocoCorp during the fourth quarter valued at approximately $126,936,000. Millennium Management LLC bought a new position in SunocoCorp in the 4th quarter valued at approximately $76,886,000. Norges Bank purchased a new stake in SunocoCorp during the 4th quarter valued at $74,696,000. Morgan Stanley purchased a new position in shares of SunocoCorp in the fourth quarter worth $73,776,000. Finally, Engine Capital Management LP purchased a new stake in shares of SunocoCorp during the fourth quarter valued at $67,976,000.

About SunocoCorp

Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.