Suncor Energy Inc. (NYSE:SU) Stake Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC raised its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 859,707 shares of the oil and gas producer’s stock after purchasing an additional 127,237 shares during the period. NewEdge Wealth LLC owned about 0.07% of Suncor Energy worth $30,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sanctuary Advisors LLC lifted its holdings in shares of Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Intech Investment Management LLC grew its stake in Suncor Energy by 1,345.8% during the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after buying an additional 436,016 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Suncor Energy in the fourth quarter worth $236,000. Aigen Investment Management LP bought a new stake in Suncor Energy in the third quarter valued at $1,376,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after acquiring an additional 3,225,543 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on SU shares. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Bank of America assumed coverage on Suncor Energy in a research report on Wednesday. They issued a “neutral” rating on the stock. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $38.26 on Thursday. Suncor Energy Inc. has a 1 year low of $33.26 and a 1 year high of $41.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a fifty day moving average price of $38.13 and a two-hundred day moving average price of $38.65. The firm has a market cap of $47.62 billion, a P/E ratio of 11.09, a PEG ratio of 2.94 and a beta of 1.12.

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

Suncor Energy Cuts Dividend

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

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.