SunocoCorp LLC (NYSE:SUNC) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• SunocoCorp received a consensus “Moderate Buy” rating from six analysts, with three buys, one strong buy, one hold, and one sell. The average 12-month price target is $81.75, above the reported share price of $71.21.
• Institutional interest increased, with several investment firms initiating or expanding positions, including Engineers Gate Manager LP, Energy Income Partners, BTG Pactual, Bank of New York Mellon, and Pinnacle Holdings.
• The quarterly dividend was raised to $1.0148 per share, representing an annualized payout of $4.06 and a 5.7% yield. The company recently reported quarterly EPS of $0.76 on revenue of $14.26 billion.

Shares of SunocoCorp LLC (NYSE:SUNC - Get Free Report) have received a consensus rating of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $81.75.

A number of brokerages have recently issued reports on SUNC. Citigroup boosted their price objective on SunocoCorp from $73.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Zacks Research downgraded SunocoCorp from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Mizuho initiated coverage on SunocoCorp in a research note on Friday, July 24th. They set an "outperform" rating and a $83.00 target price on the stock. Weiss Ratings began coverage on SunocoCorp in a report on Tuesday, August 11th. They set a "hold (c)" rating for the company. Finally, Barclays reissued an "overweight" rating and set a $83.00 price target on shares of SunocoCorp in a report on Thursday, October 15th.

Institutional Investors Weigh In On SunocoCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP raised its position in shares of SunocoCorp by 406.7% in the second quarter. Engineers Gate Manager LP now owns 46,112 shares of the company's stock valued at $3,120,000 after buying an additional 37,011 shares in the last quarter. Energy Income Partners LLC acquired a new stake in SunocoCorp during the first quarter worth approximately $12,742,000. BTG Pactual Asset Management US LLC acquired a new stake in SunocoCorp during the second quarter worth approximately $2,906,000. Bank of New York Mellon Corp acquired a new stake in SunocoCorp during the second quarter worth approximately $12,164,000. Finally, Pinnacle Holdings LLC bought a new position in SunocoCorp during the 2nd quarter worth $4,563,000.

SunocoCorp Stock Performance

Shares of SUNC stock opened at $71.21 on Friday. The company has a market capitalization of $3.67 billion and a price-to-earnings ratio of 24.64. 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 company has a 50-day simple moving average of $75.97 and a 200 day simple moving average of $69.59. SunocoCorp has a 52 week low of $47.00 and a 52 week high of $83.50.

SunocoCorp (NYSE:SUNC - Get Free Report) last announced 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 during the quarter.

SunocoCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be given a dividend of $1.0148 per share. This represents a $4.06 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, November 6th. This is a positive change from SunocoCorp's previous quarterly dividend of $1.0023. SunocoCorp's dividend payout ratio (DPR) is 140.14%.

SunocoCorp Company Profile

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.