MMCAP International Inc. SPC Invests $1.12 Million in SunocoCorp LLC $SUNC

MMCAP International Inc. SPC purchased a new position in shares of SunocoCorp LLC (NYSE:SUNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,755 shares of the company’s stock, valued at approximately $1,121,000.

Other hedge funds have also made changes to their positions in the company. Danske Bank A S acquired a new stake in shares of SunocoCorp during the fourth quarter worth approximately $133,000. Gabelli Funds LLC acquired a new stake in shares of SunocoCorp during the fourth quarter worth approximately $320,000. Pictet Asset Management Holding SA acquired a new stake in shares of SunocoCorp during the fourth quarter worth approximately $327,000. Arizona State Retirement System acquired a new stake in shares of SunocoCorp during the fourth quarter worth approximately $571,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of SunocoCorp during the fourth quarter worth approximately $606,000.

Wall Street Analysts Forecast Growth

SUNC has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of SunocoCorp from $63.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Zacks Research downgraded shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Wall Street Zen raised shares of SunocoCorp to a “hold” rating in a report on Saturday, February 28th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a report on Wednesday, May 6th. Finally, Citigroup lifted their price objective on shares of SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.33.

SunocoCorp Price Performance

SunocoCorp stock opened at $68.95 on Wednesday. The stock has a fifty day simple moving average of $64.36. SunocoCorp LLC has a 12 month low of $47.00 and a 12 month high of $73.24.

SunocoCorp (NYSE:SUNC) 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 business had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.56 billion. On average, analysts anticipate that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $0.9899 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, May 8th.

About SunocoCorp

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