First Horizon Advisors Inc. Raises Holdings in Suncor Energy Inc. (NYSE:SU)

First Horizon Advisors Inc. increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,879 shares of the oil and gas producer’s stock after purchasing an additional 281 shares during the quarter. First Horizon Advisors Inc.’s holdings in Suncor Energy were worth $186,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SU. Johnson Financial Group Inc. purchased a new stake in Suncor Energy in the 4th quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in Suncor Energy in the 4th quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in Suncor Energy in the 2nd quarter valued at $26,000. Benjamin F. Edwards & Company Inc. grew its holdings in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares in the last quarter. Finally, Adirondack Trust Co. grew its holdings in Suncor Energy by 45.6% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

SU opened at $40.32 on Wednesday. The stock’s 50-day moving average price is $38.47 and its 200 day moving average price is $37.50. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.92. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm has a market cap of $51.23 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.84 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Suncor Energy’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.64 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 3.92%. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Wolfe Research began coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

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.