SunocoCorp LLC $SUNC Stock Sold by QV Investors Inc.

QV Investors Inc. lowered its position in SunocoCorp LLC (NYSE:SUNC) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,028,154 shares of the company’s stock after selling 24,180 shares during the quarter. SunocoCorp makes up about 5.5% of QV Investors Inc.’s portfolio, making the stock its biggest position. QV Investors Inc.’s holdings in SunocoCorp were worth $75,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUNC. Assenagon Asset Management S.A. boosted its stake in shares of SunocoCorp by 0.6% during the third quarter. Assenagon Asset Management S.A. now owns 1,063,315 shares of the company’s stock valued at $77,771,000 after purchasing an additional 6,690 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of SunocoCorp by 3,139.1% during the first quarter. Janus Henderson Group PLC now owns 583,031 shares of the company’s stock worth $35,931,000 after acquiring an additional 565,031 shares during the last quarter. Renaissance Technologies LLC acquired a new position in SunocoCorp during the 1st quarter valued at approximately $30,301,000. Energy Income Partners LLC acquired a new position in shares of SunocoCorp in the 1st quarter valued at $12,742,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of SunocoCorp in the first quarter valued at about $12,330,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SUNC. Barclays reissued an “overweight” rating and set a $83.00 target price on shares of SunocoCorp in a report on Thursday, October 15th. Zacks Research lowered shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Mizuho assumed coverage on SunocoCorp in a research note on Friday, July 24th. They issued an “outperform” rating and a $83.00 price objective for the company. Citigroup increased their price objective on shares of SunocoCorp from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings started coverage on SunocoCorp in a report on Tuesday, August 11th. They set a “hold (c)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SunocoCorp currently has a consensus rating of “Moderate Buy” and an average price target of $81.75.

SunocoCorp Price Performance

Shares of SunocoCorp stock opened at $72.97 on Wednesday. The business has a 50-day moving average of $76.65 and a 200 day moving average of $70.97. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.83 and a current ratio of 1.29. SunocoCorp LLC has a 12 month low of $47.00 and a 12 month high of $83.50.

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

SunocoCorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were given a dividend of $1.0023 per share. This represents a $4.01 annualized dividend and a yield of 5.5%. The ex-dividend date was Friday, August 7th. This is a positive change from SunocoCorp’s previous quarterly dividend of $0.9899. SunocoCorp’s payout ratio is presently 138.75%.

SunocoCorp Profile

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