SunocoCorp (NYSE:SUNC) Sets New 52-Week High – What’s Next?

SunocoCorp LLC (NYSE:SUNC) hit a new 52-week high on Monday . The company traded as high as $71.81 and last traded at $71.55, with a volume of 70866 shares traded. The stock had previously closed at $71.40.

Wall Street Analysts Forecast Growth

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

SunocoCorp Price Performance

The business has a 50 day simple moving average of $62.80.

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

SunocoCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors 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 yield of 5.6%.

Hedge Funds Weigh In On SunocoCorp

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of SunocoCorp in the 4th quarter valued at about $43,000. Waverly Advisors LLC grew its holdings in SunocoCorp by 1.4% during the first quarter. Waverly Advisors LLC now owns 95,419 shares of the company’s stock worth $5,883,000 after acquiring an additional 1,324 shares during the period. SG Americas Securities LLC acquired a new stake in SunocoCorp during the first quarter worth about $112,000. Deutsche Bank AG purchased a new position in SunocoCorp during the fourth quarter valued at approximately $92,000. Finally, State of Wyoming acquired a new position in SunocoCorp in the first quarter valued at approximately $164,000.

About SunocoCorp

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