SunocoCorp (NYSE:SUNC) Reaches New 1-Year High – Here’s Why

SunocoCorp LLC (NYSE:SUNC) hit a new 52-week high during trading on Monday . The stock traded as high as $77.55 and last traded at $76.29, with a volume of 652 shares changing hands. The stock had previously closed at $76.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SUNC. Zacks Research upgraded shares of SunocoCorp from a “strong sell” rating to a “hold” rating in a research note on Friday, June 19th. Mizuho began coverage on shares of SunocoCorp in a report on Friday. They set an “outperform” rating and a $83.00 price target for the company. Barclays raised their price target on SunocoCorp from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Citigroup boosted their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.50.

SunocoCorp Stock Performance

The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40. The company has a market cap of $3.93 billion and a P/E ratio of 35.82. The company has a fifty day moving average price of $68.63.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.56 billion. As a group, research analysts forecast that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SunocoCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SUNC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of SunocoCorp during the fourth quarter worth approximately $43,000. Deutsche Bank AG bought a new position in SunocoCorp in the 4th quarter valued at $92,000. SG Americas Securities LLC bought a new position in SunocoCorp in the 1st quarter valued at $112,000. Danske Bank A S acquired a new position in SunocoCorp in the fourth quarter worth $133,000. Finally, State of Wyoming acquired a new position in SunocoCorp in 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.