SunocoCorp LLC (NYSE:SUNC) Stock Has Average Price Target of $81.00 According to Analysts

SunocoCorp LLC (NYSE:SUNC) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $81.00.

Several research firms have recently weighed in on SUNC. Weiss Ratings started coverage on shares of SunocoCorp in a research report on Tuesday, August 11th. They issued a “hold (c)” rating for the company. Zacks Research cut shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Citigroup increased their price target 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 lifted their price target on SunocoCorp from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Mizuho began coverage on SunocoCorp in a report on Friday, July 24th. They issued an “outperform” rating and a $83.00 price objective for the company.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP grew its position in shares of SunocoCorp by 406.7% during the 2nd quarter. Engineers Gate Manager LP now owns 46,112 shares of the company’s stock valued at $3,120,000 after buying an additional 37,011 shares during the last quarter. BTG Pactual Asset Management US LLC acquired a new stake in SunocoCorp during the second quarter worth about $2,906,000. Pinnacle Holdings LLC acquired a new stake in SunocoCorp during the second quarter worth about $4,563,000. Bank of New York Mellon Corp bought a new position in SunocoCorp in the second quarter worth about $12,164,000. Finally, Assenagon Asset Management S.A. bought a new position in SunocoCorp in the second quarter worth about $71,502,000.

SunocoCorp Price Performance

SUNC stock opened at $74.85 on Wednesday. SunocoCorp has a twelve month low of $47.00 and a twelve month high of $83.50. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $3.86 billion and a P/E ratio of 25.90. The firm has a 50 day simple moving average of $76.61 and a 200-day simple moving average of $70.40.

SunocoCorp (NYSE:SUNC) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter. The company had revenue of $14.26 billion during the quarter.

SunocoCorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a dividend of $1.0023 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $4.01 dividend on an annualized basis and a yield of 5.4%. This is a boost from SunocoCorp’s previous quarterly dividend of $0.9899. SunocoCorp’s dividend payout ratio (DPR) is 138.75%.

SunocoCorp Company Profile

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