Suncor Energy Inc. (NYSE:SU) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 656,635 shares of the oil and gas producer’s stock after buying an additional 36,069 shares during the quarter. Envestnet Asset Management Inc. owned about 0.05% of Suncor Energy worth $25,018,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in shares of Suncor Energy by 6.1% in the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 281 shares during the period. Adirondack Trust Co. lifted its holdings in shares of Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Suncor Energy by 6.7% during the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after purchasing an additional 315 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Suncor Energy by 11.0% during the second quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after purchasing an additional 325 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Suncor Energy by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SU shares. Scotiabank reduced their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research began coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target on the stock. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Stock Down 1.4 %

SU opened at $37.21 on Friday. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The business has a 50-day moving average of $38.90 and a 200-day moving average of $38.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The company has a market capitalization of $47.69 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. During the same period last year, the business earned $0.71 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s payout ratio is 35.86%.

Suncor Energy Company 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.