SunocoCorp LLC (NYSE:SUNC) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Six analysts give SunocoCorp a consensus “Moderate Buy” rating, with an average 12-month price target of $81.00 versus the reported share price of $75.64.
• Recent recommendations were mixed, including outperform and overweight ratings from Mizuho and Barclays, a strong-buy reiteration from Raymond James, and a strong-sell downgrade from Zacks Research.
• SunocoCorp raised its quarterly dividend to $1.0023, or about $4.01 annually, producing a 5.3% yield; however, its payout ratio was high at 138.75%. The company reported quarterly EPS of $0.76 on $14.26 billion in revenue.

SunocoCorp LLC (NYSE:SUNC - Get Free Report) has received an average recommendation of "Moderate Buy" from the six analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $81.00.

SUNC has been the subject of several recent research reports. Mizuho started coverage on shares of SunocoCorp in a research report on Friday, July 24th. They issued an "outperform" rating and a $83.00 price objective for the company. Weiss Ratings assumed coverage on shares of SunocoCorp in a report on Tuesday, August 11th. They set a "hold (c)" rating on the stock. Barclays upped their price target on shares of SunocoCorp from $78.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and issued a $80.00 price target on shares of SunocoCorp in a report on Wednesday, May 6th. Finally, Zacks Research lowered SunocoCorp from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th.

SunocoCorp Stock Performance

Shares of NYSE:SUNC opened at $75.64 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.60. SunocoCorp has a 1 year low of $47.00 and a 1 year high of $77.57. The stock has a market cap of $3.90 billion and a PE ratio of 26.17. The business's 50-day moving average price is $70.60.

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

SunocoCorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a $1.0023 dividend. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.3%. This is an increase from SunocoCorp's previous quarterly dividend of $0.99. The ex-dividend date is Friday, August 7th. SunocoCorp's payout ratio is 138.75%.

Hedge Funds Weigh In On SunocoCorp

Several hedge funds and other institutional investors have recently bought and sold shares of SUNC. Pinnacle Holdings LLC purchased a new position in SunocoCorp in the 2nd quarter worth approximately $4,563,000. Bank of New York Mellon Corp purchased a new stake in shares of SunocoCorp during the second quarter valued at approximately $12,164,000. Assenagon Asset Management S.A. purchased a new stake in shares of SunocoCorp during the second quarter valued at approximately $71,502,000. Walnut Private Equity Partners LLC lifted its position in shares of SunocoCorp by 11.8% during the second quarter. Walnut Private Equity Partners LLC now owns 9,500 shares of the company's stock worth $643,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of SunocoCorp by 24.7% during the first quarter. Glenmede Trust Co. NA now owns 14,845 shares of the company's stock worth $915,000 after purchasing an additional 2,945 shares in the last quarter.

About SunocoCorp

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source