Engine Capital Management LP Makes New Investment in SunocoCorp LLC $SUNC

Engine Capital Management LP bought a new position in shares of SunocoCorp LLC (NYSE:SUNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,379,382 shares of the company’s stock, valued at approximately $67,976,000. SunocoCorp comprises about 9.4% of Engine Capital Management LP’s portfolio, making the stock its 4th biggest holding. Engine Capital Management LP owned about 0.67% of SunocoCorp at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUNC. Goldman Sachs Group Inc. acquired a new stake in SunocoCorp during the fourth quarter worth $126,936,000. Norges Bank acquired a new stake in SunocoCorp during the fourth quarter worth $74,696,000. Morgan Stanley acquired a new stake in SunocoCorp during the fourth quarter worth $73,776,000. BCV Asset Management Inc. acquired a new stake in SunocoCorp during the fourth quarter worth $61,116,000. Finally, QV Investors Inc. acquired a new stake in SunocoCorp during the fourth quarter worth $58,528,000.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup raised their price target on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen upgraded SunocoCorp to a “hold” rating in a research report on Saturday, February 28th. Raymond James Financial restated a “strong-buy” rating and set a $80.00 price target on shares of SunocoCorp in a research report on Wednesday, May 6th. Zacks Research lowered SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Barclays raised their price target on SunocoCorp from $63.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.33.

SunocoCorp Stock Down 2.3%

SUNC opened at $62.69 on Thursday. SunocoCorp LLC has a 52 week low of $47.00 and a 52 week high of $73.24. The stock’s fifty day moving average price is $65.83. The stock has a market capitalization of $3.23 billion and a price-to-earnings ratio of 29.43. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40.

SunocoCorp (NYSE:SUNC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.66 by $0.47. The firm had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.56 billion. Sell-side analysts expect that SunocoCorp LLC will post 6.88 earnings per share for the current year.

SunocoCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.9899 dividend. The ex-dividend date was Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a yield of 6.3%. SunocoCorp’s dividend payout ratio (DPR) is 185.92%.

SunocoCorp Profile

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