NewEdge Wealth LLC purchased a new stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,148,025 shares of the oil and gas producer’s stock, valued at approximately $61,626,000.
Several other institutional investors also recently bought and sold shares of the company. Formidable Asset Management LLC increased its stake in Suncor Energy by 1.1% during the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock worth $1,058,000 after buying an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in shares of Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after acquiring an additional 190 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 193 shares in the last quarter. DGS Capital Management LLC lifted its position in shares of Suncor Energy by 3.2% in the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 193 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its stake in shares of Suncor Energy by 3.5% in the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 196 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.
Suncor Energy Stock Down 0.2%
NYSE SU opened at $67.54 on Thursday. The business’s fifty day simple moving average is $60.75 and its 200-day simple moving average is $61.45. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm has a market cap of $79.75 billion, a PE ratio of 12.44, a P/E/G ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29.
Suncor Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy’s dividend payout ratio is currently 32.04%.
Analysts Set New Price Targets
Several analysts recently commented on SU shares. Morgan Stanley set a $106.00 price target on Suncor Energy in a research report on Wednesday. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.25.
Get Our Latest Stock Report on SU
Suncor Energy Profile
Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
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