SunocoCorp (NYSE:SUNC) Hits New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

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

SunocoCorp Stock Performance

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 company has a market cap of $4.25 billion and a PE ratio of 28.54. The business has a 50-day moving average price of $74.97.

SunocoCorp (NYSE:SUNC) last released its earnings results on Tuesday, August 4th. The company reported $0.76 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 paid a $1.0023 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $4.01 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s payout ratio is 138.75%.

Institutional Trading of SunocoCorp

Several large investors have recently modified their holdings of SUNC. Caitong International Asset Management Co. Ltd purchased a new stake in SunocoCorp during the 4th quarter worth approximately $43,000. SG Americas Securities LLC acquired a new position in SunocoCorp during the 1st quarter valued at approximately $112,000. Deutsche Bank AG acquired a new position in shares of SunocoCorp during the fourth quarter valued at $92,000. State of Wyoming acquired a new position in SunocoCorp during the 1st quarter valued at about $164,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in SunocoCorp in the 1st quarter worth about $254,000.

About SunocoCorp

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