Clearbridge Investments LLC Acquires Shares of 716,678 SunocoCorp LLC $SUNC

Clearbridge Investments LLC acquired a new stake in SunocoCorp LLC (NYSE:SUNC) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 716,678 shares of the company’s stock, valued at approximately $35,318,000.

Other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in SunocoCorp in the 4th quarter valued at approximately $133,000. Northwestern Mutual Wealth Management Co. purchased a new stake in SunocoCorp in the 4th quarter valued at approximately $312,000. Gabelli Funds LLC purchased a new stake in SunocoCorp in the 4th quarter valued at approximately $320,000. Pictet Asset Management Holding SA purchased a new stake in SunocoCorp in the 4th quarter valued at approximately $327,000. Finally, Arizona State Retirement System purchased a new stake in SunocoCorp in the 4th quarter valued at approximately $571,000.

SunocoCorp Trading Down 1.8%

SUNC stock opened at $65.07 on Wednesday. The firm’s 50 day moving average is $65.36. SunocoCorp LLC has a 12-month low of $47.00 and a 12-month high of $73.24. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.40 and a quick ratio of 0.92.

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

SunocoCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.9899 per share. This represents a $3.96 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, May 8th.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SUNC shares. Citigroup lifted their price objective on SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised SunocoCorp to a “hold” rating in a report on Saturday, February 28th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price target on shares of SunocoCorp in a research report on Wednesday, May 6th. Zacks Research downgraded shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Barclays lifted their price target on shares of SunocoCorp from $63.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. One investment 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.33.

SunocoCorp Company Profile

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