Renaissance Technologies LLC Purchases Shares of 491,500 SunocoCorp LLC $SUNC

Renaissance Technologies LLC acquired a new position in shares of SunocoCorp LLC (NYSE:SUNC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 491,500 shares of the company’s stock, valued at approximately $30,301,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in SunocoCorp in the 4th quarter worth about $126,936,000. Millennium Management LLC acquired a new position in shares of SunocoCorp during the 4th quarter valued at about $76,886,000. Norges Bank purchased a new position in shares of SunocoCorp during the 4th quarter worth about $74,696,000. Morgan Stanley purchased a new position in shares of SunocoCorp during the 4th quarter worth about $73,776,000. Finally, Engine Capital Management LP acquired a new stake in shares of SunocoCorp in the fourth quarter worth approximately $67,976,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SUNC shares. Barclays boosted their target price on shares of SunocoCorp from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Citigroup upped their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Zacks Research cut SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Mizuho began coverage on SunocoCorp in a research note on Friday. They set an “outperform” rating and a $83.00 price target for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SunocoCorp presently has an average rating of “Moderate Buy” and an average price target of $78.50.

SunocoCorp Stock Performance

SunocoCorp stock opened at $76.19 on Wednesday. The business’s 50 day moving average is $68.79. The firm has a market cap of $3.93 billion and a price-to-earnings ratio of 35.77. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 1.67. SunocoCorp LLC has a one year low of $47.00 and a one year high of $77.55.

SunocoCorp (NYSE:SUNC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $9.56 billion. On average, analysts forecast that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be given a dividend of $1.0023 per share. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from SunocoCorp’s previous quarterly dividend of $0.99. This represents a $4.01 dividend on an annualized basis and a dividend yield of 5.3%. SunocoCorp’s dividend payout ratio is presently 185.92%.

SunocoCorp Company Profile

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