SunocoCorp (NYSE:SUNC) Posts Earnings Results

SunocoCorp (NYSE:SUNC) released its quarterly earnings results on Tuesday. The company reported $1.55 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $18.03 billion for the quarter.

Here are the key takeaways from SunocoCorp’s conference call:

• Record third-quarter performance: Adjusted EBITDA reached $1.06 billion and adjusted distributable cash flow was $588 million, while trailing-12-month distribution coverage remained strong at 2.1x.
• Management expects to exceed the top end of 2026 guidance and said 2026 is not an outlier, with another record year anticipated in 2027 even if refining margins return to mid-cycle levels.
• The $600 million Offen Petroleum acquisition adds approximately 2.5 billion gallons of annual fuel volume and strengthens Sunoco’s Midwest and Mountain West footprint, supply optionality, and logistics network.
• Sunoco raised its quarterly distribution by 1.25% sequentially and more than 10% year over year, while leverage fell to approximately 3.5x and liquidity stood at $2.3 billion.
• Pipeline segment EBITDA declined to $166 million from $190 million in the prior quarter due to lower joint-venture contributions and the absence of first-half FERC clawbacks; Canadian fuel demand also fell low- to mid-single digits amid elevated prices.

SunocoCorp Stock Performance

Shares of NYSE SUNC traded down $3.25 during midday trading on Thursday, hitting $63.16. The company’s stock had a trading volume of 150,437 shares, compared to its average volume of 502,763. The stock has a fifty day moving average price of $75.44 and a 200 day moving average price of $69.57. SunocoCorp has a one year low of $47.00 and a one year high of $83.50. 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 firm has a market capitalization of $3.25 billion and a price-to-earnings ratio of 21.89.

SunocoCorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a $1.0148 dividend. The ex-dividend date is Friday, November 6th. This is a positive change from SunocoCorp’s previous quarterly dividend of $1.0023. This represents a $4.06 annualized dividend and a dividend yield of 6.4%. SunocoCorp’s dividend payout ratio is 140.14%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SUNC shares. Mizuho began coverage on shares of SunocoCorp in a report on Friday, July 24th. They set an “outperform” rating and a $83.00 price objective for the company. Zacks Research cut shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Citigroup boosted their target price on shares of SunocoCorp from $73.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Barclays reissued an “overweight” rating and set a $83.00 target price on shares of SunocoCorp in a research report on Thursday, October 15th. Finally, Weiss Ratings started coverage on shares of SunocoCorp in a report on Tuesday, August 11th. They issued a “hold (c)” rating on the stock. One research 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 given a Sell rating to the company. According to MarketBeat, SunocoCorp has a consensus rating of “Moderate Buy” and an average price target of $81.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in SunocoCorp by 12.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 314,308 shares of the company’s stock valued at $22,988,000 after acquiring an additional 35,883 shares in the last quarter. State of Wyoming purchased a new stake in shares of SunocoCorp in the third quarter worth $67,000. Miller Howard Investments Inc. NY boosted its stake in SunocoCorp by 152.5% during the third quarter. Miller Howard Investments Inc. NY now owns 613,791 shares of the company’s stock valued at $44,893,000 after buying an additional 370,667 shares during the period. Nisa Investment Advisors LLC boosted its stake in SunocoCorp by 147.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock valued at $109,000 after buying an additional 887 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in SunocoCorp during the third quarter valued at $948,000.

About SunocoCorp

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