SunocoCorp (NYSE:SUNC) Hits New 12-Month High - Should You Buy?

Key Points

• SunocoCorp shares reached a new 52-week high of $79.83 and were trading near $79.77, with the company valued at approximately $4.12 billion.
• Analyst views are mixed but lean positive, producing a consensus “Moderate Buy” rating and an $81 price target; targets range from $80 to $83, while Zacks Research downgraded the stock to “strong sell.”
• SunocoCorp reported quarterly earnings of $0.76 per share on $14.26 billion in revenue and raised its quarterly dividend to $1.0023, implying a 5.0% yield. However, its 138.75% payout ratio may raise questions about dividend sustainability.

Shares of SunocoCorp LLC (NYSE:SUNC - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $79.83 and last traded at $79.77, with a volume of 429643 shares trading hands. The stock had previously closed at $79.55.

Analyst Ratings Changes

Several research analysts recently weighed in on SUNC shares. Zacks Research lowered shares of SunocoCorp from a "hold" rating to a "strong sell" rating in a research note on Friday, July 24th. Citigroup upped their target price 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. Weiss Ratings started coverage on shares of SunocoCorp in a report on Tuesday, August 11th. They issued a "hold (c)" rating on the stock. Mizuho initiated coverage on shares of SunocoCorp in a research report on Friday, July 24th. They set an "outperform" rating and a $83.00 price target on the stock. Finally, Barclays boosted their price target on shares of SunocoCorp from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

SunocoCorp Stock Up 0.5%

The company's fifty day moving average is $74.40. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.60. The company has a market cap of $4.12 billion and a P/E ratio of 27.62.

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

SunocoCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a $1.0023 dividend. This is a boost from SunocoCorp's previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, August 7th. SunocoCorp's payout ratio is presently 138.75%.

Institutional Investors Weigh In On SunocoCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of SunocoCorp during the 4th quarter worth approximately $43,000. Deutsche Bank AG bought a new stake in shares of SunocoCorp during the 4th quarter worth approximately $92,000. SG Americas Securities LLC acquired a new stake in shares of SunocoCorp in the 1st quarter valued at approximately $112,000. State of Wyoming acquired a new position in SunocoCorp during the first quarter worth $164,000. Finally, Lombard Odier Asset Management USA Corp acquired a new position in SunocoCorp during the first quarter worth $254,000.

About SunocoCorp

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

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