SunocoCorp (NYSE:SUNC) Issues Quarterly Earnings Results

SunocoCorp (NYSE:SUNC) posted its earnings results on Tuesday. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.47, Zacks reports.

SunocoCorp Stock Up 0.7%

Shares of NYSE:SUNC traded up $0.50 during trading on Tuesday, hitting $66.94. 108,602 shares of the company were exchanged, compared to its average volume of 513,955. SunocoCorp has a fifty-two week low of $47.00 and a fifty-two week high of $67.33. The firm has a fifty day simple moving average of $61.39.

SunocoCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be given a dividend of $0.9899 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $3.96 annualized dividend and a dividend yield of 5.9%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG acquired a new position in shares of SunocoCorp during the 4th quarter worth approximately $92,000. Commonwealth Equity Services LLC acquired a new position in SunocoCorp during the fourth quarter worth approximately $272,000. Northwestern Mutual Wealth Management Co. acquired a new position in SunocoCorp during the fourth quarter worth approximately $312,000. XTX Topco Ltd acquired a new position in SunocoCorp during the fourth quarter worth approximately $363,000. Finally, ExodusPoint Capital Management LP acquired a new position in SunocoCorp during the fourth quarter worth approximately $430,000.

Analyst Ratings Changes

SUNC has been the topic of a number of research reports. Raymond James Financial upgraded SunocoCorp from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a report on Monday, January 5th. Zacks Research lowered SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Finally, Wall Street Zen upgraded SunocoCorp to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, SunocoCorp has a consensus rating of “Moderate Buy” and an average target price of $64.00.

About SunocoCorp

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