SunocoCorp LLC (NYSE:SUNC) Stock Has Consensus Target Price of $81.00 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Six analysts give SunocoCorp a consensus “Moderate Buy” rating, with an average 12-month price target of $81.00 versus the stock’s $72.43 opening price.
• Recent broker actions were mixed but generally positive, including upgraded price targets from Barclays and Citigroup and an “outperform” rating from Mizuho, offset by a “strong sell” call from Zacks Research.
• SunocoCorp reported quarterly earnings of $0.76 per share on $14.26 billion in revenue and increased its quarterly dividend to $1.0023 per share, equivalent to a 5.5% annualized yield.

SunocoCorp LLC (NYSE:SUNC - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $81.00.

SUNC has been the subject of several recent analyst reports. Barclays lifted their price target on SunocoCorp from $78.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Mizuho started coverage on SunocoCorp in a report on Friday, July 24th. They issued an "outperform" rating and a $83.00 price objective on the stock. Citigroup upped 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. Weiss Ratings initiated coverage on SunocoCorp in a research report on Tuesday, August 11th. They set a "hold (c)" rating on the stock. Finally, Zacks Research cut shares of SunocoCorp from a "hold" rating to a "strong sell" rating in a research note on Friday, July 24th.

SunocoCorp Stock Up 2.0%

SUNC stock opened at $72.43 on Wednesday. The firm has a market cap of $3.73 billion and a PE ratio of 25.06. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.83 and a current ratio of 1.29. The firm's fifty day moving average is $76.82 and its 200 day moving average is $70.16. SunocoCorp has a one year low of $47.00 and a one year high of $83.50.

SunocoCorp (NYSE:SUNC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter. The firm had revenue of $14.26 billion during the quarter.

SunocoCorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a dividend of $1.0023 per share. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from SunocoCorp's previous quarterly dividend of $0.9899. This represents a $4.01 annualized dividend and a yield of 5.5%. SunocoCorp's payout ratio is 138.75%.

Institutional Trading of SunocoCorp

Institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP increased its position in shares of SunocoCorp by 406.7% during the second quarter. Engineers Gate Manager LP now owns 46,112 shares of the company's stock worth $3,120,000 after purchasing an additional 37,011 shares in the last quarter. BTG Pactual Asset Management US LLC purchased a new position in shares of SunocoCorp in the second quarter worth about $2,906,000. Pinnacle Holdings LLC acquired a new position in SunocoCorp during the second quarter worth about $4,563,000. Bank of New York Mellon Corp acquired a new position in SunocoCorp during the second quarter worth about $12,164,000. Finally, Assenagon Asset Management S.A. purchased a new stake in SunocoCorp during the 2nd quarter valued at about $71,502,000.

SunocoCorp Company Profile

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

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