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

Key Points

• BTG Pactual Asset Management US LLC acquired 42,940 SunocoCorp shares worth approximately $2.91 million, representing about 0.08% of the company. Several other major institutions, including Goldman Sachs and Millennium Management, also initiated positions.
• Analyst sentiment remains broadly positive, with SunocoCorp receiving a “Moderate Buy” consensus rating and an average price target of $81, although ratings range from “Strong Buy” to “Strong Sell.”
• SunocoCorp reported quarterly EPS of $0.76 on $14.26 billion in revenue and raised its quarterly dividend to $1.0023, equivalent to an annualized yield of about 5.2%.

BTG Pactual Asset Management US LLC acquired a new position in SunocoCorp LLC (NYSE:SUNC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 42,940 shares of the company's stock, valued at approximately $2,906,000. BTG Pactual Asset Management US LLC owned approximately 0.08% of SunocoCorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SUNC. Goldman Sachs Group Inc. acquired a new stake in SunocoCorp during the fourth quarter worth approximately $126,936,000. Millennium Management LLC bought a new position in shares of SunocoCorp during the 4th quarter worth approximately $76,886,000. Norges Bank bought a new position in shares of SunocoCorp during the 4th quarter worth approximately $74,696,000. Morgan Stanley acquired a new stake in shares of SunocoCorp during the 4th quarter worth approximately $73,776,000. Finally, Engine Capital Management LP acquired a new stake in shares of SunocoCorp during the 4th quarter worth approximately $67,976,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SUNC. Barclays boosted their target price on shares of SunocoCorp from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Citigroup lifted their price target 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. Raymond James Financial restated a "strong-buy" rating and issued a $80.00 target price on shares of SunocoCorp in a research note on Wednesday, May 6th. Zacks Research lowered SunocoCorp from a "hold" rating to a "strong sell" rating in a report on Friday, July 24th. Finally, Weiss Ratings initiated coverage on SunocoCorp in a report on Tuesday, August 11th. They set a "hold (c)" rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

SunocoCorp Price Performance

SUNC opened at $76.39 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.60. The stock has a market cap of $3.94 billion and a P/E ratio of 26.43. The business's fifty day moving average price is $72.79. SunocoCorp LLC has a 1 year low of $47.00 and a 1 year high of $78.85.

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

SunocoCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a $1.0023 dividend. This is a positive change from SunocoCorp's previous quarterly dividend of $0.99. The ex-dividend date was Friday, August 7th. This represents a $4.01 annualized dividend and a yield of 5.2%. SunocoCorp's dividend payout ratio (DPR) is 138.41%.

About SunocoCorp

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

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