Engine Capital Management LP Buys New Shares in SunocoCorp LLC $SUNC

Engine Capital Management LP bought a new stake in SunocoCorp LLC (NYSE:SUNC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,379,382 shares of the company’s stock, valued at approximately $67,976,000. SunocoCorp accounts for 9.4% of Engine Capital Management LP’s investment portfolio, making the stock its 4th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG purchased a new position in SunocoCorp in the fourth quarter valued at $92,000. Danske Bank A S purchased a new position in SunocoCorp in the fourth quarter valued at $133,000. Commonwealth Equity Services LLC purchased a new position in SunocoCorp in the fourth quarter valued at $272,000. Northwestern Mutual Wealth Management Co. purchased a new position in SunocoCorp in the fourth quarter valued at $312,000. Finally, Gabelli Funds LLC purchased a new position in SunocoCorp in the fourth quarter valued at $320,000.

Analyst Ratings Changes

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

SunocoCorp Stock Performance

SUNC opened at $62.69 on Thursday. The business’s 50-day moving average price is $65.83. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.40 and a quick ratio of 0.92. SunocoCorp LLC has a one year low of $47.00 and a one year high of $73.24. The firm has a market capitalization of $3.23 billion and a PE ratio of 29.43.

SunocoCorp (NYSE:SUNC) last posted its earnings results on Tuesday, May 5th. The company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.47. The firm had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.56 billion. On average, equities research analysts forecast that SunocoCorp LLC will post 6.88 EPS for the current fiscal year.

SunocoCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.9899 dividend. This represents a $3.96 annualized dividend and a yield of 6.3%. The ex-dividend date was Friday, May 8th. SunocoCorp’s payout ratio is 185.92%.

SunocoCorp Company Profile

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