Ninepoint Partners LP Has $3.13 Million Holdings in Suncor Energy Inc. (NYSE:SU)

Ninepoint Partners LP decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 92.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,148 shares of the oil and gas producer’s stock after selling 1,013,718 shares during the quarter. Suncor Energy accounts for about 0.3% of Ninepoint Partners LP’s portfolio, making the stock its 18th largest position. Ninepoint Partners LP’s holdings in Suncor Energy were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. acquired a new stake in shares of Suncor Energy in the 4th quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy in the second quarter worth $26,000. Summit Securities Group LLC bought a new position in shares of Suncor Energy during the second quarter worth $27,000. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at $29,000. Finally, Adirondack Trust Co. increased its position in shares of 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. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SU shares. Scotiabank reduced their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research began 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 on the stock. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Price Performance

NYSE SU opened at $36.81 on Friday. The firm’s 50 day moving average is $38.76 and its 200-day moving average is $38.42. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $46.77 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued 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. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.395 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.29%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.08%.

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.