SunocoCorp (NYSE:SUNC) Sets New 52-Week High - Here's Why

Key Points

• Shares of SunocoCorp (NYSE:SUNC) reached a new 52-week high, trading as high as $62.50 and last at $62.0050 on a volume of 263,098 shares.
• Analysts are mixed but leaning positive: Raymond James upgraded to a strong-buy with a $70 target while Zacks cut to a strong sell, leaving a MarketBeat consensus rating of Moderate Buy and a $64.00 average target price.
• Several institutions initiated new, modest positions in Q4—including Deutsche Bank, Danske Bank and Northwestern Mutual—signaling modest institutional inflows.

Shares of SunocoCorp LLC (NYSE:SUNC - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $62.50 and last traded at $62.0050, with a volume of 263098 shares. The stock had previously closed at $61.31.

Analysts Set New Price Targets

A number of research firms have issued reports on SUNC. Wall Street Zen raised SunocoCorp to a "hold" rating in a research note on Saturday, February 28th. Raymond James Financial upgraded SunocoCorp from an "outperform" rating to a "strong-buy" rating and set a $70.00 price objective on the stock in a report on Monday, January 5th. Finally, Zacks Research lowered SunocoCorp from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, SunocoCorp currently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

SunocoCorp Price Performance

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in SunocoCorp during the 4th quarter worth approximately $43,000. Deutsche Bank AG acquired a new stake in shares of SunocoCorp in the fourth quarter valued at approximately $92,000. Danske Bank A S bought a new stake in shares of SunocoCorp in the fourth quarter worth $133,000. Commonwealth Equity Services LLC acquired a new position in SunocoCorp during the fourth quarter worth $272,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in SunocoCorp during the fourth quarter worth $312,000.

About SunocoCorp

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

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