Goldman Sachs Group Inc. Makes New Investment in SunocoCorp LLC $SUNC

Goldman Sachs Group Inc. bought a new position in SunocoCorp LLC (NYSE:SUNC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,575,806 shares of the company’s stock, valued at approximately $126,936,000.

A number of other large investors have also added to or reduced their stakes in SUNC. Norges Bank bought a new stake in SunocoCorp in the 4th quarter worth approximately $74,696,000. QV Investors Inc. bought a new stake in SunocoCorp in the 4th quarter worth approximately $58,528,000. UBS Group AG bought a new stake in SunocoCorp in the 4th quarter worth approximately $49,908,000. iA Global Asset Management Inc. bought a new stake in SunocoCorp in the 4th quarter worth approximately $30,104,000. Finally, Cardinal Point Capital Management ULC bought a new stake in SunocoCorp in the 4th quarter worth approximately $10,061,000.

SunocoCorp Trading Down 0.8%

Shares of SunocoCorp stock opened at $66.39 on Tuesday. The stock’s fifty day simple moving average is $65.31. SunocoCorp LLC has a 1-year low of $47.00 and a 1-year high of $73.24. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40.

SunocoCorp (NYSE:SUNC) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.47. The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.56 billion. As a group, research analysts predict that SunocoCorp LLC will post 6.88 EPS for the current year.

SunocoCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.9899 per share. This represents a $3.96 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Friday, May 8th.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SUNC. Wall Street Zen raised shares of SunocoCorp to a “hold” rating in a research report on Saturday, February 28th. Citigroup lifted their target price on shares of SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Zacks Research cut shares of SunocoCorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price target on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Barclays lifted their price target on shares of SunocoCorp from $63.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.33.

SunocoCorp Profile

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