SunocoCorp (NYSE:SUNC) Reaches New 12-Month High - Time to Buy?

Key Points

• SunocoCorp shares reached a new 52-week high of $77.74, up from a previous close of $75.46, giving the company a market capitalization of approximately $4 billion.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $81.00, although Zacks Research downgraded the stock to “Strong Sell.”
• The company reported quarterly EPS of $0.76 on $14.26 billion in revenue and raised its quarterly dividend to $1.0023 per share, representing a 5.2% yield; however, its payout ratio is high at 138.75%.

Shares of SunocoCorp LLC (NYSE:SUNC - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $77.74 and last traded at $77.7090, with a volume of 377178 shares trading hands. The stock had previously closed at $75.46.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research cut SunocoCorp from a "hold" rating to a "strong sell" rating in a report on Friday, July 24th. 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 target on the stock. Citigroup increased their price objective on shares of SunocoCorp from $73.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Barclays boosted their target price on shares of SunocoCorp from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 price target on shares of SunocoCorp in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SunocoCorp presently has a consensus rating of "Moderate Buy" and an average price target of $81.00.

SunocoCorp Stock Performance

The business has a 50 day moving average of $70.60. The stock has a market capitalization of $4.00 billion and a price-to-earnings ratio of 26.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.29 and a quick ratio of 0.83.

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

SunocoCorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be issued a dividend of $1.0023 per share. The ex-dividend date is Friday, August 7th. This is a positive change from SunocoCorp's previous quarterly dividend of $0.99. This represents a $4.01 annualized dividend and a yield of 5.2%. SunocoCorp's dividend payout ratio is currently 138.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Energy Income Partners LLC bought a new position in SunocoCorp in the 1st quarter valued at about $12,742,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in SunocoCorp during the 4th quarter worth approximately $606,000. UBS Group AG bought a new position in shares of SunocoCorp in the fourth quarter valued at approximately $49,908,000. Miller Howard Investments Inc. NY purchased a new position in shares of SunocoCorp during the first quarter valued at approximately $5,463,000. Finally, Truist Financial Corp bought a new stake in SunocoCorp during the fourth quarter worth $2,004,000.

About SunocoCorp

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

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