Pinnacle Holdings LLC Invests $4.56 Million in SunocoCorp LLC $SUNC

Pinnacle Holdings LLC acquired a new position in shares of SunocoCorp LLC (NYSE:SUNC) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 67,423 shares of the company’s stock, valued at approximately $4,563,000. SunocoCorp comprises 1.4% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 10th biggest position. Pinnacle Holdings LLC owned approximately 0.13% of SunocoCorp as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SUNC. Caitong International Asset Management Co. Ltd purchased a new position in SunocoCorp in the fourth quarter valued at about $43,000. Deutsche Bank AG purchased a new stake in shares of SunocoCorp during the fourth quarter valued at about $92,000. SG Americas Securities LLC purchased a new stake in shares of SunocoCorp during the first quarter valued at about $112,000. Danske Bank A S bought a new stake in shares of SunocoCorp in the 4th quarter valued at about $133,000. Finally, State of Wyoming bought a new stake in shares of SunocoCorp in the 1st quarter valued at about $164,000.

SunocoCorp Price Performance

NYSE SUNC opened at $77.28 on Monday. The firm has a market cap of $3.98 billion and a P/E ratio of 26.74. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.83 and a current ratio of 1.29. The firm has a fifty day moving average price of $71.51. SunocoCorp LLC has a 1 year low of $47.00 and a 1 year high of $78.85.

SunocoCorp (NYSE:SUNC) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter. The firm had revenue of $14.26 billion for the quarter.

SunocoCorp Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SUNC shares. Zacks Research lowered shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Weiss Ratings began coverage on shares of SunocoCorp in a research note on Tuesday, August 11th. They issued a “hold (c)” rating for the company. Barclays lifted their price target on shares of SunocoCorp from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price objective on shares of SunocoCorp in a report on Wednesday, May 6th. Finally, Citigroup increased their price objective on SunocoCorp from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SunocoCorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

SunocoCorp Profile

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