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

SunocoCorp LLC (NYSE:SUNC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $77.74 and last traded at $77.7090, with a volume of 377178 shares trading hands. The stock had previously closed at $75.46.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SUNC. Weiss Ratings initiated coverage on SunocoCorp in a report on Tuesday, August 11th. They issued a “hold (c)” rating on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price target on shares of SunocoCorp in a research note on Wednesday, May 6th. Barclays lifted their price objective on shares of SunocoCorp from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Zacks Research cut shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Finally, Citigroup upped 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 equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

SunocoCorp Stock Performance

The stock has a market cap of $3.96 billion and a price-to-earnings ratio of 26.62. The company has a fifty day simple moving average of $71.07. 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 posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter. The firm had revenue of $14.26 billion for the quarter.

SunocoCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a dividend of $1.0023 per share. This represents a $4.01 annualized dividend and a yield of 5.2%. The ex-dividend date was Friday, August 7th. This is a positive change from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s dividend payout ratio (DPR) is currently 138.75%.

Institutional Investors Weigh In On SunocoCorp

Several large investors have recently modified their holdings of the business. Energy Income Partners LLC bought a new position in shares of SunocoCorp during the 1st quarter worth approximately $12,742,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in SunocoCorp in the fourth quarter worth $606,000. UBS Group AG purchased a new position in SunocoCorp in the fourth quarter worth $49,908,000. Miller Howard Investments Inc. NY acquired a new position in shares of SunocoCorp during the first quarter worth $5,463,000. Finally, Truist Financial Corp acquired a new position in shares of SunocoCorp during the fourth quarter worth $2,004,000.

SunocoCorp Company Profile

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