Entropy Technologies LP Purchases New Shares in SunocoCorp LLC $SUNC

Key Points

• Entropy Technologies LP acquired 13,631 SunocoCorp shares during the first quarter, valued at approximately $840,000. Several other institutional investors also initiated or increased positions.
• SunocoCorp reported quarterly EPS of $2.13, beating the $1.66 consensus estimate, while revenue of $10.69 billion exceeded expectations of $9.56 billion.
• The company raised its quarterly dividend to $1.0023, equivalent to an annualized yield of about 5.3%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $78.50, despite one recent downgrade to “Strong Sell.”

Entropy Technologies LP purchased a new position in shares of SunocoCorp LLC (NYSE:SUNC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,631 shares of the company's stock, valued at approximately $840,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of SunocoCorp during the fourth quarter valued at approximately $43,000. SG Americas Securities LLC bought a new position in SunocoCorp in the 1st quarter worth approximately $112,000. Deutsche Bank AG bought a new position in SunocoCorp in the 4th quarter worth approximately $92,000. State of Wyoming purchased a new position in SunocoCorp in the 1st quarter valued at approximately $164,000. Finally, Danske Bank A S purchased a new position in SunocoCorp in the 4th quarter valued at approximately $133,000.

SunocoCorp Stock Up 0.9%

SUNC opened at $76.19 on Wednesday. The company has a fifty day moving average price of $68.79. SunocoCorp LLC has a 52 week low of $47.00 and a 52 week high of $77.55. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $3.93 billion and a PE ratio of 35.77.

SunocoCorp (NYSE:SUNC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.47. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.56 billion. As a group, equities analysts anticipate that SunocoCorp LLC will post 6.88 earnings per share for the current year.

SunocoCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $1.0023 dividend. This represents a $4.01 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, August 7th. This is a positive change from SunocoCorp's previous quarterly dividend of $0.99. SunocoCorp's dividend payout ratio is presently 185.92%.

Wall Street Analyst Weigh In

SUNC has been the topic of several recent research reports. Zacks Research downgraded SunocoCorp from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Citigroup lifted their price target on SunocoCorp from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. Mizuho initiated coverage on SunocoCorp in a report on Friday. They set an "outperform" rating and a $83.00 price objective on the stock. Finally, Barclays raised their target price on SunocoCorp from $75.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.50.

SunocoCorp Profile

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

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