Entropy Technologies LP Purchases New Shares in SunocoCorp LLC $SUNC

Entropy Technologies LP purchased a new position in shares of SunocoCorp LLC (NYSE:SUNC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,631 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of SunocoCorp during the fourth quarter valued at approximately $43,000. SG Americas Securities LLC bought a new position in SunocoCorp in the 1st quarter worth approximately $112,000. Deutsche Bank AG bought a new position in SunocoCorp in the 4th quarter worth approximately $92,000. State of Wyoming purchased a new position in SunocoCorp in the 1st quarter valued at approximately $164,000. Finally, Danske Bank A S purchased a new position in SunocoCorp in the 4th quarter valued at approximately $133,000.

SunocoCorp Stock Up 0.9%

SUNC opened at $76.19 on Wednesday. The company has a fifty day moving average price of $68.79. SunocoCorp LLC has a 52 week low of $47.00 and a 52 week high of $77.55. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $3.93 billion and a PE ratio of 35.77.

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

SunocoCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $1.0023 dividend. This represents a $4.01 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, August 7th. This is a positive change from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s dividend payout ratio is presently 185.92%.

Wall Street Analyst Weigh In

SUNC has been the topic of several recent research reports. Zacks Research downgraded SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Citigroup lifted their price target on SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. Mizuho initiated coverage on SunocoCorp in a report on Friday. They set an “outperform” rating and a $83.00 price objective on the stock. Finally, Barclays raised their target price on SunocoCorp from $75.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

SunocoCorp Profile

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