Energy Income Partners LLC Makes New Investment in SunocoCorp LLC $SUNC

Key Points

• Energy Income Partners acquired 206,677 SunocoCorp shares worth approximately $12.7 million, giving it a 0.40% stake. Several other institutional investors also initiated or increased positions during the first quarter.
• Wall Street sentiment is broadly positive: analysts maintain an average “Buy” rating with a consensus price target of $78.50, while individual targets range as high as $83.
• SunocoCorp recently exceeded quarterly expectations, reporting $2.13 in EPS versus a $1.66 estimate and $10.69 billion in revenue versus $9.56 billion expected. Shares opened at $75.47, near their 12-month high of $77.55.

Energy Income Partners LLC bought a new stake in SunocoCorp LLC (NYSE:SUNC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 206,677 shares of the company's stock, valued at approximately $12,742,000. Energy Income Partners LLC owned 0.40% of SunocoCorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. SummitTX Capital L.P. bought a new position in shares of SunocoCorp during the first quarter valued at approximately $6,229,000. Cypress Capital Group bought a new stake in shares of SunocoCorp in the 1st quarter worth approximately $661,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of SunocoCorp in the 1st quarter worth approximately $254,000. Waverly Advisors LLC boosted its position in SunocoCorp by 1.4% during the 1st quarter. Waverly Advisors LLC now owns 95,419 shares of the company's stock valued at $5,883,000 after purchasing an additional 1,324 shares during the period. Finally, Entropy Technologies LP acquired a new position in SunocoCorp during the 1st quarter valued at approximately $840,000.

Wall Street Analysts Forecast Growth

SUNC has been the subject of a number of recent research reports. Citigroup upped their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Barclays boosted their price target on shares of SunocoCorp from $75.00 to $78.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Mizuho began coverage on shares of SunocoCorp in a research report on Friday. They set an "outperform" rating and a $83.00 price target for the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $80.00 price objective on shares of SunocoCorp in a report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of SunocoCorp from a "strong sell" rating to a "hold" rating in a research report on Friday, June 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $78.50.

SunocoCorp Trading Down 1.1%

Shares of NYSE SUNC opened at $75.47 on Tuesday. SunocoCorp LLC has a 12-month low of $47.00 and a 12-month high of $77.55. The firm has a market capitalization of $3.89 billion and a P/E ratio of 35.43. The business's 50 day simple moving average is $68.72. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40.

SunocoCorp (NYSE:SUNC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.66 by $0.47. The business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.56 billion. Sell-side analysts forecast that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

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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