SunocoCorp (NYSE:SUNC) Reaches New 52-Week High – Here’s What Happened

SunocoCorp LLC (NYSE:SUNC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $79.83 and last traded at $79.77, with a volume of 429643 shares changing hands. The stock had previously closed at $79.55.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SUNC shares. Mizuho assumed coverage on SunocoCorp in a research report on Friday, July 24th. They set an “outperform” rating and a $83.00 price target on the stock. Weiss Ratings began coverage on SunocoCorp in a research report on Tuesday, August 11th. They issued a “hold (c)” rating for the company. Zacks Research lowered SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Citigroup increased their price target on SunocoCorp from $73.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Barclays raised their price target on SunocoCorp from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SunocoCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

SunocoCorp Stock Up 0.5%

The company has a fifty day moving average of $74.40. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.60. The stock has a market cap of $4.12 billion and a P/E ratio of 27.62.

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

SunocoCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a $1.0023 dividend. The ex-dividend date of this dividend was Friday, August 7th. This is a boost from SunocoCorp’s previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.0%. SunocoCorp’s dividend payout ratio (DPR) is presently 138.75%.

Hedge Funds Weigh In On SunocoCorp

Institutional investors and hedge funds have recently modified their holdings of the business. Pictet Asset Management Holding SA acquired a new stake in SunocoCorp in the 4th quarter worth about $327,000. Truist Financial Corp acquired a new position in shares of SunocoCorp during the 4th quarter worth approximately $2,004,000. Cardinal Point Capital Management ULC acquired a new position in shares of SunocoCorp during the 4th quarter worth approximately $10,061,000. iA Global Asset Management Inc. bought a new position in shares of SunocoCorp during the fourth quarter worth approximately $30,104,000. Finally, Gabelli Funds LLC bought a new position in shares of SunocoCorp during the fourth quarter worth approximately $320,000.

SunocoCorp Company Profile

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