Harbor Investment Advisory LLC Sells 791 Shares of Suncor Energy Inc. (NYSE:SU)

Harbor Investment Advisory LLC decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,467 shares of the oil and gas producer’s stock after selling 791 shares during the period. Harbor Investment Advisory LLC’s holdings in Suncor Energy were worth $1,383,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SU. Toronto Dominion Bank boosted its holdings in shares of Suncor Energy by 59.7% in the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after buying an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the period. National Bank of Canada FI boosted its stake in Suncor Energy by 60.7% in the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Suncor Energy by 305.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after acquiring an additional 1,300,000 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE:SU traded up $0.46 during midday trading on Friday, reaching $39.97. 4,133,792 shares of the company traded hands, compared to its average volume of 4,072,542. The firm’s fifty day moving average price is $38.79 and its two-hundred day moving average price is $38.52. The firm has a market capitalization of $50.62 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. 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 announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating 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 analysts’ expectations of $9.30 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, equities analysts expect that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 36.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SU shares. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, September 28th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target on the stock. Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

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.