Suncor Energy Inc. (NYSE:SU) Stake Cut by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,715 shares of the oil and gas producer’s stock after selling 2,693 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Suncor Energy were worth $215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its position in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 313 shares during the last quarter. First Financial Corp IN increased its holdings in shares of Suncor Energy by 3.3% during the 4th quarter. First Financial Corp IN now owns 12,422 shares of the oil and gas producer’s stock valued at $398,000 after acquiring an additional 393 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Suncor Energy by 4.6% during the 4th quarter. Procyon Advisors LLC now owns 9,412 shares of the oil and gas producer’s stock valued at $302,000 after acquiring an additional 413 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in shares of Suncor Energy by 5.5% during the 4th quarter. Great Valley Advisor Group Inc. now owns 8,780 shares of the oil and gas producer’s stock valued at $281,000 after acquiring an additional 454 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Suncor Energy by 8.0% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 7,300 shares of the oil and gas producer’s stock valued at $234,000 after acquiring an additional 540 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SU. The Goldman Sachs Group increased their target price on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Raymond James upgraded Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Finally, TD Securities raised their price objective on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Trading Up 1.9 %

SU stock opened at $38.00 on Friday. The business has a fifty day moving average price of $38.77 and a 200 day moving average price of $35.63. Suncor Energy Inc. has a fifty-two week low of $28.26 and a fifty-two week high of $41.50. The stock has a market capitalization of $48.70 billion, a price-to-earnings ratio of 8.46, a P/E/G ratio of 3.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Analysts expect that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were issued a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s dividend payout ratio is 35.19%.

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.