iA Global Asset Management Inc. Makes New Investment in SunocoCorp LLC $SUNC

iA Global Asset Management Inc. purchased a new position in shares of SunocoCorp LLC (NYSE:SUNC) during the 4th quarter, Holdings Channel.com reports. The fund purchased 610,881 shares of the company’s stock, valued at approximately $30,104,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUNC. QV Investors Inc. acquired a new stake in SunocoCorp during the 4th quarter worth about $58,528,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in SunocoCorp during the 4th quarter worth about $606,000. TD Waterhouse Canada Inc. acquired a new stake in SunocoCorp during the 4th quarter worth about $949,000. Arizona State Retirement System acquired a new stake in SunocoCorp during the 4th quarter worth about $571,000. Finally, UBS Group AG acquired a new stake in SunocoCorp during the 4th quarter worth about $49,908,000.

SunocoCorp Stock Performance

NYSE:SUNC opened at $71.44 on Friday. SunocoCorp LLC has a 52 week low of $47.00 and a 52 week high of $71.71. The company’s 50-day simple moving average is $62.80.

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

SunocoCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be given a dividend of $0.9899 per share. The ex-dividend date is Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.5%.

Analyst Ratings Changes

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

SunocoCorp Profile

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