Alberta Investment Management Corp Invests $8.19 Million in SunocoCorp LLC $SUNC

Alberta Investment Management Corp bought a new position in shares of SunocoCorp LLC (NYSE:SUNC) in the fourth quarter, Holdings Channel reports. The fund bought 166,181 shares of the company’s stock, valued at approximately $8,189,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in shares of SunocoCorp during the fourth quarter worth $126,936,000. Norges Bank acquired a new stake in shares of SunocoCorp during the fourth quarter worth $74,696,000. Morgan Stanley bought a new position in shares of SunocoCorp in the fourth quarter worth $73,776,000. QV Investors Inc. bought a new position in shares of SunocoCorp in the fourth quarter worth $58,528,000. Finally, UBS Group AG bought a new position in shares of SunocoCorp in the fourth quarter worth $49,908,000.

Analyst Upgrades and Downgrades

SUNC has been the topic of a number of recent analyst reports. Citigroup raised their price target on 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 SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Raymond James Financial restated a “strong-buy” rating and set a $80.00 price target on shares of SunocoCorp in a report on Wednesday, May 6th. Barclays raised their target price on SunocoCorp from $63.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded SunocoCorp to a “hold” rating in a research note on Saturday, February 28th. One research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.33.

SunocoCorp Price Performance

SUNC opened at $64.16 on Wednesday. The stock’s 50 day moving average is $65.80. The company has a current ratio of 1.40, a quick ratio of 0.92 and a debt-to-equity ratio of 1.67. SunocoCorp LLC has a 1 year low of $47.00 and a 1 year high of $73.24. The company has a market cap of $3.31 billion and a price-to-earnings ratio of 30.12.

SunocoCorp (NYSE:SUNC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.47. The firm had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.56 billion. As a group, sell-side analysts anticipate that SunocoCorp LLC will post 6.88 EPS for the current year.

SunocoCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a $0.9899 dividend. This represents a $3.96 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, May 8th. SunocoCorp’s payout ratio is currently 185.92%.

SunocoCorp Profile

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