CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its holdings in shares of SunocoCorp LLC (NYSE:SUNC – Free Report) by 12.3% during the 3rd quarter, Holdings Channel reports. The fund owned 356,000 shares of the company’s stock after selling 50,000 shares during the period. SunocoCorp comprises about 1.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 28th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in SunocoCorp were worth $26,038,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of SunocoCorp by 147.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $109,000 after acquiring an additional 887 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in SunocoCorp during the 3rd quarter worth approximately $948,000. Assenagon Asset Management S.A. lifted its holdings in shares of SunocoCorp by 0.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,063,315 shares of the company’s stock valued at $77,771,000 after buying an additional 6,690 shares during the period. Engineers Gate Manager LP lifted its stake in shares of SunocoCorp by 406.7% in the 2nd quarter. Engineers Gate Manager LP now owns 46,112 shares of the company’s stock valued at $3,120,000 after purchasing an additional 37,011 shares during the period. Finally, BTG Pactual Asset Management US LLC purchased a new position in shares of SunocoCorp in the 2nd quarter valued at about $2,906,000.
SunocoCorp Trading Up 0.4%
Shares of NYSE:SUNC opened at $74.15 on Tuesday. 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 LLC has a twelve month low of $47.00 and a twelve month high of $83.50. The firm has a 50 day simple moving average of $76.41 and a 200-day simple moving average of $69.51.
SunocoCorp (NYSE:SUNC – Get Free Report) last issued its quarterly earnings data 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 company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a dividend of $1.0148 per share. This is an increase from SunocoCorp’s previous quarterly dividend of $1.0023. This represents a $4.06 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, November 6th. SunocoCorp’s dividend payout ratio is currently 138.75%.
Wall Street Analyst Weigh In
SUNC has been the topic of several research analyst reports. Mizuho initiated coverage on shares of SunocoCorp in a research report on Friday, July 24th. They issued an “outperform” rating and a $83.00 target price on the stock. Weiss Ratings initiated coverage on shares of SunocoCorp in a report on Tuesday, August 11th. They issued a “hold (c)” rating on the stock. Zacks Research downgraded SunocoCorp from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Citigroup upped their price target on SunocoCorp from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Barclays restated an “overweight” rating and issued a $83.00 price target on shares of SunocoCorp in a research note on Thursday, October 15th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.75.
Read Our Latest Stock Report on SUNC
SunocoCorp Company Profile
Sunoco LP is an energy infrastructure and fuel distribution master limited partnership. Sunoco LP is based in DALLAS.
Featured Articles
- Five stocks we like better than SunocoCorp
- Comfort Systems Earnings: AI Slowdown or More Growth Ahead?
- Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock
- 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps
- Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
Want to see what other hedge funds are holding SUNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SunocoCorp LLC (NYSE:SUNC – Free Report).
Receive News & Ratings for SunocoCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SunocoCorp and related companies with MarketBeat.com's FREE daily email newsletter.
