Huntington National Bank Sells 2,859 Shares of Suncor Energy Inc. $SU

Huntington National Bank lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,858 shares of the oil and gas producer’s stock after selling 2,859 shares during the period. Huntington National Bank’s holdings in Suncor Energy were worth $669,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SU. Shell Asset Management Co. lifted its holdings in shares of Suncor Energy by 65.8% in the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock valued at $3,854,000 after acquiring an additional 40,892 shares during the last quarter. Focus Partners Wealth increased its stake in Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock worth $30,859,000 after acquiring an additional 10,514 shares during the last quarter. Canoe Financial LP bought a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $9,653,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Suncor Energy by 36.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock worth $36,572,000 after purchasing an additional 251,298 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after purchasing an additional 2,410,857 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

SU has been the topic of several recent research reports. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday, October 8th. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Stock Up 1.8%

Shares of SU opened at $41.97 on Friday. The firm has a fifty day moving average price of $40.79 and a 200-day moving average price of $38.86. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $50.63 billion, a P/E ratio of 12.91, a P/E/G ratio of 3.52 and a beta of 0.75. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter last year, the business posted $1.48 EPS. Equities research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a $0.60 dividend. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.7%. Suncor Energy’s dividend payout ratio (DPR) is presently 54.10%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.