Engineers Gate Manager LP Buys 37,011 Shares of SunocoCorp LLC $SUNC

Key Points

• Engineers Gate Manager LP increased its SunocoCorp stake by 406.7% in the second quarter, purchasing 37,011 additional shares for a total of 46,112 shares valued at approximately $3.12 million.
• Analyst sentiment is broadly positive, with SunocoCorp receiving a “Moderate Buy” consensus rating and an average price target of $81.00. Recent targets range from $80 to $83, although Zacks Research downgraded the stock to “Strong Sell.”
• SunocoCorp shares opened at $81.35, near their 52-week high of $83.50. The company reported quarterly earnings of $0.76 per share and raised its quarterly dividend to $1.0023, representing an annualized yield of approximately 4.9%.

Engineers Gate Manager LP boosted its stake in shares of SunocoCorp LLC (NYSE:SUNC - Free Report) by 406.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,112 shares of the company's stock after purchasing an additional 37,011 shares during the period. Engineers Gate Manager LP owned 0.09% of SunocoCorp worth $3,120,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of SunocoCorp during the 4th quarter worth approximately $43,000. Deutsche Bank AG bought a new position in shares of SunocoCorp in the fourth quarter valued at $92,000. SG Americas Securities LLC acquired a new position in SunocoCorp during the first quarter worth $112,000. State of Wyoming bought a new stake in SunocoCorp during the first quarter worth $164,000. Finally, Lombard Odier Asset Management USA Corp acquired a new stake in SunocoCorp in the first quarter valued at $254,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho initiated coverage on shares of SunocoCorp in a research note on Friday, July 24th. They set an "outperform" rating and a $83.00 price objective on the stock. Zacks Research downgraded SunocoCorp from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Weiss Ratings assumed coverage on SunocoCorp in a research note on Tuesday, August 11th. They issued a "hold (c)" rating on the stock. Citigroup lifted 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. Finally, Barclays raised their price target on SunocoCorp from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, SunocoCorp presently has an average rating of "Moderate Buy" and an average target price of $81.00.

SunocoCorp Trading Up 0.2%

NYSE:SUNC opened at $81.35 on Monday. The business's 50 day moving average price is $75.47. The firm has a market cap of $4.19 billion and a PE ratio of 28.15. SunocoCorp LLC has a 1-year low of $47.00 and a 1-year high of $83.50. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.83 and a current ratio of 1.29.

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

SunocoCorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $1.0023 per share. This is an increase from SunocoCorp's previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, August 7th. SunocoCorp's dividend payout ratio (DPR) is currently 138.75%.

About SunocoCorp

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

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