SunocoCorp (NYSE:SUNC) Announces Earnings Results

SunocoCorp (NYSE:SUNC) announced its quarterly earnings results on Tuesday. The company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.47, Zacks reports.

SunocoCorp Price Performance

NYSE:SUNC traded up $0.50 during trading hours on Tuesday, reaching $66.94. 108,602 shares of the company were exchanged, compared to its average volume of 513,955. SunocoCorp has a 1-year low of $47.00 and a 1-year high of $67.33. The firm has a 50 day moving average of $61.39.

SunocoCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a dividend of $0.9899 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a yield of 5.9%.

Institutional Investors Weigh In On SunocoCorp

A number of large investors have recently added to or reduced their stakes in SUNC. Northwestern Mutual Wealth Management Co. acquired a new stake in SunocoCorp during the fourth quarter worth approximately $312,000. JPMorgan Chase & Co. acquired a new stake in SunocoCorp during the fourth quarter worth approximately $29,590,000. LPL Financial LLC acquired a new stake in SunocoCorp during the fourth quarter worth approximately $754,000. Deutsche Bank AG acquired a new stake in SunocoCorp during the fourth quarter worth approximately $92,000. Finally, Picton Mahoney Asset Management acquired a new stake in SunocoCorp during the fourth quarter worth approximately $12,547,000.

Analysts Set New Price Targets

SUNC has been the topic of a number of recent analyst reports. Raymond James Financial raised SunocoCorp from an “outperform” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a research report on Monday, January 5th. Zacks Research downgraded SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen raised SunocoCorp to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SunocoCorp currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

About SunocoCorp

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