Allspring Global Investments Holdings LLC Buys New Holdings in SunocoCorp LLC $SUNC

Allspring Global Investments Holdings LLC purchased a new position in SunocoCorp LLC (NYSE:SUNC) during the first quarter, HoldingsChannel reports. The fund purchased 112,435 shares of the company’s stock, valued at approximately $6,932,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in SunocoCorp during the 4th quarter valued at approximately $43,000. Deutsche Bank AG purchased a new position in shares of SunocoCorp during the fourth quarter valued at about $92,000. SG Americas Securities LLC purchased a new position in SunocoCorp during the 1st quarter valued at approximately $112,000. Danske Bank A S purchased a new position in SunocoCorp during the 4th quarter valued at approximately $133,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of SunocoCorp during the 4th quarter valued at approximately $272,000.

Wall Street Analyst Weigh In

SUNC has been the subject of a number of recent research reports. Barclays raised their target price on shares of SunocoCorp from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Citigroup upped their price objective on SunocoCorp from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $80.00 price objective on shares of SunocoCorp in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded SunocoCorp from a “strong sell” rating to a “hold” rating in a report on Friday, June 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $77.00.

SunocoCorp Price Performance

Shares of SUNC opened at $75.53 on Friday. SunocoCorp LLC has a 1-year low of $47.00 and a 1-year high of $77.00. The firm’s 50-day moving average is $68.54. The company has a market cap of $3.89 billion and a price-to-earnings ratio of 35.46. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 1.67.

SunocoCorp (NYSE:SUNC) last issued 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 company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.56 billion. On average, equities analysts anticipate that SunocoCorp LLC will post 6.88 earnings per share for the current fiscal year.

SunocoCorp Profile

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