CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases Shares of 200,000 SunocoCorp LLC $SUNC

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in SunocoCorp LLC (NYSE:SUNC) in the first quarter, HoldingsChannel reports. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $12,330,000.

Several other institutional investors and hedge funds have also made changes to their positions in SUNC. Caitong International Asset Management Co. Ltd purchased a new stake in shares of SunocoCorp during the fourth quarter valued at $43,000. Deutsche Bank AG purchased a new position in SunocoCorp in the 4th quarter worth $92,000. SG Americas Securities LLC purchased a new position in SunocoCorp in the 1st quarter worth $112,000. Danske Bank A S acquired a new stake in SunocoCorp during the 4th quarter worth about $133,000. Finally, Commonwealth Equity Services LLC acquired a new stake in SunocoCorp during the 4th quarter worth about $272,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SUNC. Barclays increased their price objective on SunocoCorp from $63.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Raymond James Financial reiterated a “strong-buy” rating and issued a $80.00 target price on shares of SunocoCorp in a research report on Wednesday, May 6th. Zacks Research upgraded shares of SunocoCorp from a “strong sell” rating to a “hold” rating in a report on Friday, June 19th. Finally, Citigroup raised their price target on shares of SunocoCorp from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.33.

SunocoCorp Price Performance

NYSE SUNC opened at $68.69 on Monday. SunocoCorp LLC has a 1 year low of $47.00 and a 1 year high of $73.24. The company has a quick ratio of 0.92, a current ratio of 1.40 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $3.54 billion and a P/E ratio of 32.25. The firm’s fifty day simple moving average is $66.84.

SunocoCorp (NYSE:SUNC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.47. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.56 billion. Research analysts expect that SunocoCorp LLC will post 6.88 earnings per share for the current year.

SunocoCorp Announces Dividend

The business also recently announced 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. This represents a $3.96 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Friday, May 8th. SunocoCorp’s dividend payout ratio (DPR) is 185.92%.

About SunocoCorp

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