Cardinal Point Capital Management ULC Invests $10.06 Million in SunocoCorp LLC $SUNC

Cardinal Point Capital Management ULC acquired a new position in SunocoCorp LLC (NYSE:SUNC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 204,153 shares of the company’s stock, valued at approximately $10,061,000.

A number of other institutional investors have also made changes to their positions in SUNC. QV Investors Inc. bought a new position in shares of SunocoCorp in the fourth quarter worth about $58,528,000. UBS Group AG bought a new position in shares of SunocoCorp in the fourth quarter worth about $49,908,000. Truist Financial Corp bought a new position in shares of SunocoCorp in the fourth quarter worth about $2,004,000. TD Waterhouse Canada Inc. bought a new position in shares of SunocoCorp in the fourth quarter worth about $949,000. Finally, Carlson Capital L.P. bought a new position in shares of SunocoCorp in the fourth quarter worth about $739,000.

SunocoCorp Stock Performance

Shares of SUNC opened at $70.07 on Thursday. SunocoCorp LLC has a 12-month low of $47.00 and a 12-month high of $70.14. The firm’s 50-day moving average price is $62.33.

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, beating 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. Analysts anticipate that SunocoCorp LLC will post 6.88 EPS for the current fiscal year.

SunocoCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a $0.9899 dividend. This represents a $3.96 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, May 8th.

Analysts Set New Price Targets

Several brokerages recently issued reports on SUNC. Citigroup boosted their price target on SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Zacks Research lowered SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Raymond James Financial restated a “strong-buy” rating and set a $80.00 price target on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded SunocoCorp to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SunocoCorp currently has an average rating of “Moderate Buy” and an average target price of $70.00.

SunocoCorp Company Profile

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