Pinnacle Holdings LLC Invests $4.56 Million in SunocoCorp LLC $SUNC

Pinnacle Holdings LLC bought a new position in shares of SunocoCorp LLC (NYSE:SUNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,423 shares of the company’s stock, valued at approximately $4,563,000. SunocoCorp comprises approximately 1.4% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 10th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in SunocoCorp in the second quarter valued at $12,164,000. Assenagon Asset Management S.A. purchased a new position in shares of SunocoCorp during the 2nd quarter valued at about $71,502,000. Walnut Private Equity Partners LLC raised its stake in shares of SunocoCorp by 11.8% during the 2nd quarter. Walnut Private Equity Partners LLC now owns 9,500 shares of the company’s stock valued at $643,000 after buying an additional 1,000 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of SunocoCorp by 24.7% in the 1st quarter. Glenmede Trust Co. NA now owns 14,845 shares of the company’s stock valued at $915,000 after buying an additional 2,945 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of SunocoCorp by 3,139.1% in the 1st quarter. Janus Henderson Group PLC now owns 583,031 shares of the company’s stock valued at $35,931,000 after buying an additional 565,031 shares during the period.

SunocoCorp Stock Performance

Shares of SunocoCorp stock opened at $77.28 on Monday. The stock has a 50-day moving average price of $71.51. The firm has a market capitalization of $3.98 billion and a P/E ratio of 26.74. SunocoCorp LLC has a fifty-two week low of $47.00 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.83 and a current ratio of 1.29.

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

SunocoCorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a $1.0023 dividend. This represents a $4.01 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from SunocoCorp’s previous quarterly dividend of $0.99. SunocoCorp’s payout ratio is currently 138.75%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings began coverage on SunocoCorp in a research note on Tuesday, August 11th. They issued a “hold (c)” rating on the stock. Barclays lifted their price target on SunocoCorp from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 price target on shares of SunocoCorp in a report on Wednesday, May 6th. Citigroup raised their price objective on shares of SunocoCorp from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Mizuho initiated coverage on shares of SunocoCorp in a report on Friday, July 24th. They set an “outperform” rating and a $83.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

SunocoCorp Profile

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