SunocoCorp (NYSE:SUNC) Reaches New 12-Month High – Time to Buy?

SunocoCorp LLC (NYSE:SUNC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $77.74 and last traded at $77.7090, with a volume of 377178 shares. The stock had previously closed at $75.46.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays boosted their price target on shares of SunocoCorp from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Zacks Research cut shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Mizuho initiated coverage on SunocoCorp in a research note on Friday, July 24th. They issued an “outperform” rating and a $83.00 target price on the stock. Weiss Ratings initiated coverage on SunocoCorp in a report on Tuesday, August 11th. They issued a “hold (c)” rating for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $80.00 price target 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, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.00.

SunocoCorp Stock Up 2.9%

The stock has a market capitalization of $4.00 billion and a price-to-earnings ratio of 26.86. The stock has a 50-day simple moving average of $70.60. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 1.60.

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

SunocoCorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a $1.0023 dividend. The ex-dividend date is Friday, August 7th. This represents a $4.01 dividend on an annualized basis and a yield of 5.2%. This is an increase from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s dividend payout ratio (DPR) is presently 138.75%.

Hedge Funds Weigh In On SunocoCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of SunocoCorp in the fourth quarter valued at approximately $43,000. Walnut Private Equity Partners LLC boosted its stake in SunocoCorp by 11.8% in the 2nd quarter. Walnut Private Equity Partners LLC now owns 9,500 shares of the company’s stock worth $643,000 after purchasing an additional 1,000 shares during the period. Waverly Advisors LLC grew its holdings in SunocoCorp by 1.4% during the 1st quarter. Waverly Advisors LLC now owns 95,419 shares of the company’s stock valued at $5,883,000 after buying an additional 1,324 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of SunocoCorp during the first quarter valued at about $112,000. Finally, Deutsche Bank AG bought a new stake in shares of SunocoCorp during the fourth quarter valued at about $92,000.

About SunocoCorp

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