Clearbridge Investments LLC Takes Position in SunocoCorp LLC $SUNC

Clearbridge Investments LLC acquired a new stake in SunocoCorp LLC (NYSE:SUNC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 716,678 shares of the company’s stock, valued at approximately $35,318,000. Clearbridge Investments LLC owned approximately 0.35% of SunocoCorp at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vestcor Inc acquired a new stake in shares of SunocoCorp in the fourth quarter valued at $1,151,000. WINTON GROUP Ltd acquired a new stake in SunocoCorp in the fourth quarter valued at $1,731,000. Ovata Capital Management Ltd acquired a new stake in SunocoCorp in the fourth quarter valued at $2,572,000. Cibc World Market Inc. acquired a new stake in SunocoCorp in the fourth quarter valued at $7,774,000. Finally, Goldman Sachs Group Inc. acquired a new stake in SunocoCorp in the fourth quarter valued at $126,936,000.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded SunocoCorp to a “hold” rating in a research note on Saturday, February 28th. 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. Raymond James Financial reaffirmed a “strong-buy” rating and set a $80.00 price objective on shares of SunocoCorp in a report on Wednesday, May 6th. Zacks Research lowered SunocoCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Finally, Citigroup raised their price objective on SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, May 8th. One 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 stock. According to MarketBeat, SunocoCorp has a consensus rating of “Moderate Buy” and a consensus price target of $75.33.

SunocoCorp Price Performance

NYSE SUNC opened at $65.07 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 1.40. SunocoCorp LLC has a 52-week low of $47.00 and a 52-week high of $73.24. The business’s 50-day moving average is $65.36.

SunocoCorp (NYSE:SUNC) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.47. The company had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $9.56 billion. On average, equities analysts forecast 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. Investors of record on Friday, May 8th were issued a dividend of $0.9899 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 6.1%.

SunocoCorp Profile

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