BTG Pactual Asset Management US LLC Makes New $2.91 Million Investment in SunocoCorp LLC $SUNC

BTG Pactual Asset Management US LLC acquired a new stake in SunocoCorp LLC (NYSE:SUNC) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 42,940 shares of the company’s stock, valued at approximately $2,906,000.

Several other large investors have also recently made changes to their positions in the business. Pinnacle Holdings LLC bought a new stake in shares of SunocoCorp during the 2nd quarter worth $4,563,000. Bank of New York Mellon Corp bought a new position in SunocoCorp during the second quarter valued at about $12,164,000. Assenagon Asset Management S.A. purchased a new stake in SunocoCorp during the second quarter worth about $71,502,000. Walnut Private Equity Partners LLC increased its holdings in SunocoCorp by 11.8% during the second quarter. Walnut Private Equity Partners LLC now owns 9,500 shares of the company’s stock worth $643,000 after buying an additional 1,000 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in SunocoCorp by 24.7% in the first quarter. Glenmede Trust Co. NA now owns 14,845 shares of the company’s stock worth $915,000 after acquiring an additional 2,945 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SUNC shares. Zacks Research cut shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price target on shares of SunocoCorp in a report on Wednesday, May 6th. Mizuho started coverage on SunocoCorp in a research note on Friday, July 24th. They issued an “outperform” rating and a $83.00 price objective on the stock. Barclays increased their price objective on SunocoCorp from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Citigroup raised their target price on SunocoCorp from $73.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SunocoCorp has an average rating of “Moderate Buy” and a consensus target price of $81.00.

SunocoCorp Price Performance

NYSE:SUNC opened at $76.39 on Monday. SunocoCorp LLC has a 1 year low of $47.00 and a 1 year high of $78.85. The stock’s fifty day moving average is $72.79. 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 stock has a market capitalization of $3.94 billion and a P/E ratio of 26.43.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter. The company had revenue of $14.26 billion during the quarter.

SunocoCorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a $1.0023 dividend. The ex-dividend date was Friday, August 7th. This represents a $4.01 annualized dividend and a yield of 5.2%. This is an increase from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s dividend payout ratio is 138.41%.

About SunocoCorp

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