SunocoCorp (NYSE:SUNC) Hits New 52-Week High – Here’s Why

SunocoCorp LLC (NYSE:SUNC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $78.85 and last traded at $77.7610, with a volume of 21339 shares trading hands. The stock had previously closed at $77.70.

Analyst Upgrades and Downgrades

SUNC has been the subject of several recent analyst reports. Weiss Ratings initiated coverage on shares of SunocoCorp in a report on Tuesday, August 11th. They issued a “hold (c)” rating for the company. Barclays increased their price objective on shares of SunocoCorp from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Mizuho assumed coverage on shares of SunocoCorp in a research report on Friday, July 24th. They issued an “outperform” rating and a $83.00 target price on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $80.00 target price on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, SunocoCorp currently has an average rating of “Moderate Buy” and an average price target of $81.00.

SunocoCorp Trading Down 0.3%

The company has a market cap of $3.99 billion and a P/E ratio of 26.78. The business’s fifty day simple moving average is $73.09. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 0.83.

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

SunocoCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $1.0023 per share. The ex-dividend date was Friday, August 7th. This is an increase from SunocoCorp’s previous quarterly dividend of $0.99. This represents a $4.01 annualized dividend and a yield of 5.2%. SunocoCorp’s dividend payout ratio (DPR) is 138.75%.

Hedge Funds Weigh In On SunocoCorp

A number of institutional investors have recently bought and sold shares of SUNC. Caitong International Asset Management Co. Ltd acquired a new position in SunocoCorp in the 4th quarter valued at about $43,000. SG Americas Securities LLC acquired a new stake in shares of SunocoCorp during the 1st quarter worth approximately $112,000. Deutsche Bank AG acquired a new stake in shares of SunocoCorp during the 4th quarter worth approximately $92,000. State of Wyoming acquired a new stake in shares of SunocoCorp during the 1st quarter worth approximately $164,000. Finally, Danske Bank A S purchased a new stake in shares of SunocoCorp during the 4th quarter valued at approximately $133,000.

About SunocoCorp

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