Wealth Enhancement Advisory Services LLC Raises Position in Suncor Energy Inc. (NYSE:SU)

Wealth Enhancement Advisory Services LLC raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,731 shares of the oil and gas producer’s stock after acquiring an additional 5,082 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Suncor Energy were worth $3,091,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in Suncor Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. bought a new stake in Suncor Energy in the 4th quarter worth approximately $25,000. Adirondack Trust Co. boosted its stake in 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 worth $34,000 after buying an additional 313 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 313 shares during the last quarter. Finally, Headinvest LLC purchased a new position in shares of Suncor Energy during the third quarter worth approximately $40,000. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, June 24th. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. The Goldman Sachs Group lifted their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, TD Securities increased their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.03 on Thursday. The company’s fifty day moving average price is $38.74 and its 200-day moving average price is $35.89. The stock has a market cap of $50.02 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 3.61 and a beta of 1.12. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a 12 month low of $28.26 and a 12 month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. On average, equities analysts expect that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.19%.

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.