SunocoCorp (NYSE:SUNC) Shares Break Below 200-Day Moving Average - Here's Why

Key Points

• SunocoCorp shares fell below their 200-day moving average, reaching $68.88 compared with the $69.59 average, before last trading at $69.13.
• Analyst sentiment remains generally positive: the stock has a consensus “Moderate Buy” rating and an average price target of $81.75, despite ratings ranging from Strong Buy to Strong Sell.
• SunocoCorp raised its quarterly dividend to $1.0148 per share, implying a 5.9% annualized yield; however, its dividend payout ratio is high at 140.14%.

SunocoCorp LLC (NYSE:SUNC - Get Free Report) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $69.59 and traded as low as $68.88. SunocoCorp shares last traded at $69.13, with a volume of 242,243 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on SUNC shares. Mizuho initiated coverage on shares of SunocoCorp in a research note on Friday, July 24th. They issued an "outperform" rating and a $83.00 price objective for the company. Citigroup boosted their price objective on shares of SunocoCorp from $73.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Barclays restated an "overweight" rating and set a $83.00 target price on shares of SunocoCorp in a research report on Thursday, October 15th. Zacks Research cut shares of SunocoCorp from a "hold" rating to a "strong sell" rating in a report on Friday, July 24th. Finally, Weiss Ratings initiated coverage on shares of SunocoCorp in a research report on Tuesday, August 11th. They set a "hold (c)" rating for the company. One equities 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's stock. Based on data from MarketBeat.com, SunocoCorp currently has a consensus rating of "Moderate Buy" and an average price target of $81.75.

SunocoCorp Stock Performance

The stock has a 50-day simple moving average of $75.80 and a 200 day simple moving average of $69.59. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 0.83. The company has a market capitalization of $3.56 billion and a PE ratio of 23.92.

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 during the quarter.

SunocoCorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a dividend of $1.0148 per share. This is a boost from SunocoCorp's previous quarterly dividend of $1.0023. The ex-dividend date of this dividend is Friday, November 6th. This represents a $4.06 annualized dividend and a dividend yield of 5.9%. SunocoCorp's dividend payout ratio is presently 140.14%.

Institutional Investors Weigh In On SunocoCorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming purchased a new position in SunocoCorp during the 3rd quarter valued at about $67,000. Nisa Investment Advisors LLC raised its position in SunocoCorp by 147.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company's stock worth $109,000 after acquiring an additional 887 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of SunocoCorp in the first quarter valued at about $112,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of SunocoCorp in the first quarter valued at about $254,000. Finally, Sei Investments Co. purchased a new stake in shares of SunocoCorp in the first quarter valued at about $274,000.

About SunocoCorp

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

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