SunocoCorp (NYSE:SUNC) Issues Earnings Results

SunocoCorp (NYSE:SUNC) released its quarterly earnings data on Tuesday. The company reported $1.55 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $18.03 billion during the quarter.

SunocoCorp Price Performance

NYSE SUNC traded up $0.47 on Tuesday, hitting $69.60. The company had a trading volume of 17,669 shares, compared to its average volume of 502,218. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 0.83. The company’s fifty day moving average price is $75.80 and its 200-day moving average price is $69.59. The company has a market capitalization of $3.59 billion and a PE ratio of 23.91. SunocoCorp has a 12-month low of $47.00 and a 12-month high of $83.50.

SunocoCorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a $1.0148 dividend. This represents a $4.06 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, November 6th. This is a boost from SunocoCorp’s previous quarterly dividend of $1.0023. SunocoCorp’s payout ratio is presently 140.14%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SUNC. Zacks Research lowered shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Weiss Ratings initiated coverage on SunocoCorp in a research note on Tuesday, August 11th. They issued a “hold (c)” rating for the company. Mizuho assumed coverage on SunocoCorp in a report on Friday, July 24th. They issued an “outperform” rating and a $83.00 price target for the company. Barclays reaffirmed an “overweight” rating and issued a $83.00 price target on shares of SunocoCorp in a report on Thursday, October 15th. Finally, Citigroup increased their price target on SunocoCorp from $73.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.75.

Hedge Funds Weigh In On SunocoCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of SunocoCorp by 0.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,063,315 shares of the company’s stock worth $77,771,000 after purchasing an additional 6,690 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in SunocoCorp by 152.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 613,791 shares of the company’s stock valued at $44,893,000 after buying an additional 370,667 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in SunocoCorp by 3,139.1% in the 1st quarter. Janus Henderson Group PLC now owns 583,031 shares of the company’s stock worth $35,931,000 after buying an additional 565,031 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in SunocoCorp in the 1st quarter worth about $30,301,000. Finally, Energy Income Partners LLC acquired a new stake in SunocoCorp in the 1st quarter worth about $12,742,000.

SunocoCorp Company Profile

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