K2 Principal Fund L.P. Invests $5.18 Million in SunocoCorp LLC $SUNC

K2 Principal Fund L.P. bought a new position in SunocoCorp LLC (NYSE:SUNC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 105,090 shares of the company’s stock, valued at approximately $5,179,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in shares of SunocoCorp in the 4th quarter worth about $92,000. Danske Bank A S purchased a new stake in shares of SunocoCorp in the 4th quarter worth about $133,000. Commonwealth Equity Services LLC purchased a new stake in shares of SunocoCorp in the 4th quarter worth about $272,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of SunocoCorp in the 4th quarter worth about $312,000. Finally, Gabelli Funds LLC purchased a new stake in shares of SunocoCorp in the 4th quarter worth about $320,000.

SunocoCorp Price Performance

Shares of SunocoCorp stock opened at $66.51 on Friday. The company has a market cap of $3.43 billion and a PE ratio of 31.23. The stock has a 50-day moving average price of $65.64. SunocoCorp LLC has a 1 year low of $47.00 and a 1 year high of $73.24. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67.

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

SunocoCorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $0.9899 per share. The ex-dividend date was Friday, May 8th. This represents a $3.96 annualized dividend and a yield of 6.0%. SunocoCorp’s dividend payout ratio is currently 185.92%.

Analyst Upgrades and Downgrades

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

SunocoCorp Profile

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