Creative Planning Increases Stock Position in Suncor Energy Inc. (NYSE:SU)

Creative Planning boosted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,035 shares of the oil and gas producer’s stock after buying an additional 7,889 shares during the period. Creative Planning’s holdings in Suncor Energy were worth $9,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Richardson Financial Services Inc. purchased a new position in shares of Suncor Energy in the fourth quarter valued at $25,000. Trust Co. of Vermont purchased a new position in Suncor Energy during the 2nd quarter valued at about $26,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the second quarter valued at about $27,000. Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy in the second quarter worth about $29,000. Finally, Adirondack Trust Co. boosted its position in shares of Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 313 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SU. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. Scotiabank decreased their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Price Performance

SU opened at $38.49 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The stock’s 50 day simple moving average is $38.73 and its 200 day simple moving average is $38.49. The firm has a market cap of $48.90 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 2.48 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, analysts predict that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.10%. Suncor Energy’s payout ratio is presently 36.08%.

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.