SunocoCorp (NYSE:SUNC) Sets New 52-Week High - Should You Buy?

Key Points

• SunocoCorp hit a new 52-week high, trading as high as $73.35 and ending the session up about 3.3% at $73.39.
• Analysts remain broadly positive, with Barclays and Citigroup raising price targets and the consensus rating still at Buy with an average target of $77.00.
• The company posted strong quarterly results, earning $2.13 per share versus $1.66 expected and generating $10.69 billion in revenue, while also paying a quarterly dividend that annualizes to a 5.4% yield.

SunocoCorp LLC (NYSE:SUNC - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $73.35 and last traded at $73.39, with a volume of 233006 shares traded. The stock had previously closed at $71.07.

Analysts Set New Price Targets

Several research firms have weighed in on SUNC. Barclays boosted their price target on SunocoCorp from $75.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citigroup increased their price objective on SunocoCorp from $65.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 8th. Zacks Research upgraded shares of SunocoCorp from a "strong sell" rating to a "hold" rating in a report on Friday, June 19th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $80.00 price objective on shares of SunocoCorp in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $77.00.

SunocoCorp Trading Up 3.3%

The company has a 50 day moving average of $67.49. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.40 and a quick ratio of 0.92. The firm has a market cap of $3.78 billion and a P/E ratio of 34.46.

SunocoCorp (NYSE:SUNC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.56 billion. As a group, sell-side analysts forecast that SunocoCorp LLC will post 6.88 EPS for the current fiscal year.

SunocoCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $0.9899 per share. The ex-dividend date was Friday, May 8th. This represents a $3.96 annualized dividend and a yield of 5.4%. SunocoCorp's dividend payout ratio (DPR) is 185.92%.

Hedge Funds Weigh In On SunocoCorp

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in SunocoCorp in the 4th quarter valued at $126,936,000. Millennium Management LLC acquired a new position in shares of SunocoCorp in the fourth quarter valued at about $76,886,000. Norges Bank acquired a new stake in SunocoCorp in the 4th quarter worth about $74,696,000. Morgan Stanley bought a new stake in SunocoCorp in the 4th quarter valued at about $73,776,000. Finally, Engine Capital Management LP bought a new stake in SunocoCorp in the 4th quarter valued at about $67,976,000.

SunocoCorp Company Profile

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

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