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

Key Points

• 52-week high: SunocoCorp shares reached a new 52-week high of $66.98 Monday, last trading around $65.97 on volume of 356,698 shares.
• Dividend: The company announced a quarterly dividend of $0.9899 (annualized $3.96), implying a ~6.0% yield; the ex-dividend date is May 8 and the payment date is May 20.
• Analysts & institutional interest: MarketBeat shows a consensus "Moderate Buy" with an average target of $64, while institutional investors such as QV Investors and UBS added large new stakes (~$58.5M and ~$49.9M, respectively).

SunocoCorp LLC (NYSE:SUNC - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $66.98 and last traded at $65.9740, with a volume of 356698 shares traded. The stock had previously closed at $65.97.

Analyst Upgrades and Downgrades

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

SunocoCorp Price Performance

The firm's fifty day simple moving average is $61.39.

SunocoCorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be issued a $0.9899 dividend. The ex-dividend date is Friday, May 8th. This represents a $3.96 annualized dividend and a dividend yield of 6.0%.

Institutional Trading of SunocoCorp

Institutional investors have recently modified their holdings of the company. QV Investors Inc. acquired a new stake in shares of SunocoCorp during the fourth quarter worth $58,528,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of SunocoCorp during the fourth quarter valued at $606,000. TD Waterhouse Canada Inc. acquired a new position in shares of SunocoCorp in the 4th quarter valued at $949,000. Arizona State Retirement System acquired a new position in shares of SunocoCorp in the 4th quarter valued at $571,000. Finally, UBS Group AG acquired a new position in shares of SunocoCorp in the 4th quarter valued at $49,908,000.

About SunocoCorp

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

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