According to its most recent Form 13F filing with the Securities and Exchange Commission, Commonwealth Equity Services LLC increased its position in Suncor Energy Inc. (NYSE: SU – Get Rating) (TSE: SU) by 12.3% in the first quarter. After buying an additional 1,879 shares during the reporting period, the fund’s total holdings in the oil and gas company were 17,099 shares. As of its most recent SEC filing, Commonwealth Equity Services LLC has $557,000 worth of stock in Suncor Energy.
Many other hedge funds have also made adjustments to their stakes in the company. Shares of Suncor Energy were bought up by Gladstone Institutional Advisory LLC by 9.4 percent in the first quarter. After purchasing an additional 842 shares during the last quarter, Gladstone Institutional Advisory LLC now owns 9,755 shares of the oil and gas producer’s stock, valued at approximately $318,000. At the end of the first quarter, Envestnet Asset Management Inc.’s holdings in Suncor Energy had increased by 66.6%. After purchasing an additional 108,050 shares during the preceding quarter, Envestnet Asset Management Inc. holds a total of 270,336 shares of the oil and gas producer’s stock, with a value of $8,810,000. During the first three months of the year, Shell Asset Management Co. increased its holdings in Suncor Energy by 2.1%. After buying an additional 2,900 shares of the oil and gas producer during the last quarter, Shell Asset Management Co. now holds 142,575 shares, which are worth $4,646,000. During the first quarter, Metis Global Partners LLC spent roughly $1,735,000 establishing a new stake in shares of Suncor Energy. Finally, in the first quarter, Knowledge Leaders Capital LLC spent $1,552,000 on a new stake in Suncor Energy. The institutional investment and hedge fund community presently owns 58.48% of the company’s shares.
Analyst Rating Changes
Recent opinions on the stock have come from a variety of equities analysts. On Monday, July 18th, analysts at National Bank Financial cut their price target on shares of Suncor Energy from C$73.00 to C$64.00. On Wednesday, June 8th, research firm Scotiabank raised its price target on shares of Suncor Energy from C$46.00 to C$57.00. On Thursday, August 11th, Credit Suisse Group reaffirmed a “outperform” rating and set a $63.00 price objective on shares of Suncor Energy. In a report published on Tuesday, May 10th, TD Securities raised their price objective on shares of Suncor Energy from C$51.00 to C$53.00. Finally, on Thursday, June 9th, BMO Capital Markets increased its price objective on Suncor Energy from C$54.00 to C$60.00. There are eleven buy ratings on the stock compared to five hold ratings on the company’s shares. The consensus rating on MarketBeat is “Moderate Buy,” and the average price target is $51.38.
Suncor Energy Trading Down 1.2 %
On Friday, SU opened on the NYSE at $32.62. With a market cap of $45.02bn, a PE ratio of 6.31, a price-to-earnings-growth ratio of 0.51, and a beta of 1.26, the company is doing quite well. The debt-to-equity ratio for this firm is 0.32, while the quick ratio is at 0.74, and the current ratio comes in at 1.14. The stock price for Suncor Energy Inc. has ranged between $17.26 and $42.72 during the past 52 weeks. In terms of moving averages, the stock is currently trading at a premium to both its 50-day SMA ($33.17) and 200-day SMA ($33.61).
Suncor Energy Increases Dividend
A quarterly dividend was also just declared and is scheduled to be distributed on Monday, September 26. A dividend of $0.3656 per share will be distributed to stockholders of record on Friday, September 2. At an annualized rate, this dividend amounts to $1.46, yielding 4.48%. This dividend will be paid out beginning on September 1st, with Thursday, September 1st, being the ex-dividend date. Suncor Energy’s previous quarterly dividend was $0.36, therefore this is an increase. The payout ratio for Suncor Energy is presently 28.82%.
Suncor Energy Profile
Suncor Energy Inc. is a full-service energy enterprise. The firm explores, acquires, develops, produces, transports, refines, and distributes crude oil in Canada and abroad under the Petro-Canada brand name, and principally markets petroleum and petrochemical products within Canada.
Suncor Energy Inc. (NYSE:SU – Get Rating) insider transactions and 13F filings can be viewed at HoldingsChannel.com (TSE:SU).
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