Suncor Energy Inc. (NYSE:SU) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 52.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,593 shares of the oil and gas producer’s stock after buying an additional 13,674 shares during the quarter. NewEdge Advisors LLC’s holdings in Suncor Energy were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy during the 2nd quarter worth approximately $26,000. Summit Securities Group LLC purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $27,000. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the second quarter worth $29,000. Finally, Adirondack Trust Co. increased its position 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 worth $34,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SU. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. Scotiabank lowered their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company 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 note on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.97 on Friday. The stock’s 50-day moving average is $38.79 and its two-hundred day moving average is $38.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The firm has a market cap of $50.62 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 2.60 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly 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 analyst estimates of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. Analysts predict that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 3.95%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 36.08%.

About Suncor Energy

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.