Truist Financial Corp Boosts Stock Position in Suncor Energy Inc. (NYSE:SU)

Truist Financial Corp grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,403 shares of the oil and gas producer’s stock after purchasing an additional 1,449 shares during the quarter. Truist Financial Corp’s holdings in Suncor Energy were worth $1,656,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Principal Securities Inc. lifted its stake in Suncor Energy by 2.2% in the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock worth $443,000 after purchasing an additional 265 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Suncor Energy by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock valued at $4,169,000 after acquiring an additional 321 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in Suncor Energy by 11.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer’s stock worth $112,000 after acquiring an additional 333 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.0 %

Shares of SU opened at $38.23 on Friday. Suncor Energy Inc. has a 1-year low of $33.26 and a 1-year high of $41.94. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $38.20 and its 200-day moving average price is $38.65. The firm has a market capitalization of $47.58 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 2.94 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.17%. Suncor Energy’s payout ratio is 45.22%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Bank of America began coverage on shares of Suncor Energy in a report on Wednesday. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.