SunocoCorp (NYSE:SUNC) Reaches New 1-Year High – What’s Next?

SunocoCorp LLC (NYSE:SUNC) hit a new 52-week high during trading on Tuesday . The company traded as high as $68.19 and last traded at $68.1950, with a volume of 185886 shares changing hands. The stock had previously closed at $66.09.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup upped their target price on SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Zacks Research lowered SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Barclays upped their target price on SunocoCorp from $63.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen upgraded SunocoCorp to a “hold” rating in a research report on Saturday, February 28th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 target price on shares of SunocoCorp in a research report on Wednesday, May 6th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.33.

SunocoCorp Price Performance

The stock’s 50-day moving average is $62.56.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $9.56 billion. As a group, analysts expect that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be issued a $0.9899 dividend. 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 5.6%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new position in SunocoCorp in the fourth quarter valued at approximately $126,936,000. Millennium Management LLC acquired a new position in SunocoCorp in the fourth quarter valued at approximately $76,886,000. Norges Bank acquired a new position in SunocoCorp in the fourth quarter valued at approximately $74,696,000. Morgan Stanley acquired a new position in SunocoCorp in the fourth quarter valued at approximately $73,776,000. Finally, Engine Capital Management LP acquired a new position in SunocoCorp in the fourth quarter valued at approximately $67,976,000.

About SunocoCorp

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