SunocoCorp (NYSE:SUNC) Sets New 1-Year High – Here’s Why

SunocoCorp LLC (NYSE:SUNC)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $73.35 and last traded at $73.39, with a volume of 233006 shares changing hands. The stock had previously closed at $71.07.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research upgraded shares of SunocoCorp from a “strong sell” rating to a “hold” rating in a research report on Friday, June 19th. Barclays boosted their price objective on SunocoCorp from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup increased their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $80.00 target price on shares of SunocoCorp in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $77.00.

SunocoCorp Trading Down 1.9%

The company has a 50-day moving average price of $67.74. The company has a market cap of $3.72 billion and a P/E ratio of 33.88. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.40 and a quick ratio of 0.92.

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

SunocoCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.9899 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, May 8th. SunocoCorp’s dividend payout ratio is 185.92%.

Hedge Funds Weigh In On SunocoCorp

Several hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of SunocoCorp in the fourth quarter valued at $43,000. Deutsche Bank AG bought a new stake in SunocoCorp in the fourth quarter worth about $92,000. SG Americas Securities LLC bought a new stake in SunocoCorp in the first quarter worth about $112,000. Danske Bank A S acquired a new stake in SunocoCorp in the 4th quarter valued at about $133,000. Finally, State of Wyoming acquired a new stake in SunocoCorp in the 1st quarter valued at about $164,000.

About SunocoCorp

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