NewEdge Advisors LLC decreased its position in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 19.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 96,891 shares of the oil and gas producer’s stock after selling 23,040 shares during the period. NewEdge Advisors LLC’s holdings in Suncor Energy were worth $5,201,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 398 shares in the last quarter. Continuum Advisory LLC purchased a new position in Suncor Energy during the 2nd quarter valued at about $27,000. 1 North Wealth Services LLC purchased a new stake in Suncor Energy in the fourth quarter valued at approximately $32,000. Accent Capital Management LLC lifted its position in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Suncor Energy by 22.6% during the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 193 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.
Suncor Energy Stock Performance
Shares of Suncor Energy stock opened at $68.72 on Tuesday. The company has a 50 day moving average price of $64.91 and a 200 day moving average price of $63.08. 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 capitalization of $80.38 billion, a P/E ratio of 12.66, a PEG ratio of 0.50 and a beta of 0.30. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.84.
Suncor Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is 31.86%.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. One equities 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. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $80.25.
Check Out Our Latest Research Report on SU
Suncor Energy Company Profile
Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.
Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.
Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada’s largest integrated energy companies.
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