SunocoCorp (NYSE:SUNC) Sets New 12-Month 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 $78.85 and last traded at $77.7610, with a volume of 21339 shares. The stock had previously closed at $77.70.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SUNC. Zacks Research cut SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Weiss Ratings started coverage on shares of SunocoCorp in a research report on Tuesday, August 11th. They set a “hold (c)” rating for the company. Mizuho initiated coverage on shares of SunocoCorp in a report on Friday, July 24th. They issued an “outperform” rating and a $83.00 price objective on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a research report on Wednesday, May 6th. Finally, Citigroup raised their target price on shares of SunocoCorp from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SunocoCorp has an average rating of “Moderate Buy” and a consensus target price of $81.00.

SunocoCorp Trading Down 0.6%

The company’s 50-day moving average is $73.66. The stock has a market cap of $4.03 billion and a P/E ratio of 27.04. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.60.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter. The firm had revenue of $14.26 billion during the quarter.

SunocoCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were paid a $1.0023 dividend. This represents a $4.01 annualized dividend and a yield of 5.1%. This is a boost from SunocoCorp’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Friday, August 7th. SunocoCorp’s payout ratio is 138.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SUNC. Caitong International Asset Management Co. Ltd acquired a new position in SunocoCorp during the 4th quarter worth approximately $43,000. Deutsche Bank AG acquired a new stake in SunocoCorp in the fourth quarter valued at approximately $92,000. SG Americas Securities LLC bought a new stake in shares of SunocoCorp during the first quarter worth $112,000. Danske Bank A S acquired a new position in shares of SunocoCorp during the fourth quarter worth $133,000. Finally, State of Wyoming acquired a new position in shares of SunocoCorp during the first quarter worth $164,000.

SunocoCorp Company Profile

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