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

Wealth Enhancement Advisory Services LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 63.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,604 shares of the oil and gas producer’s stock after buying an additional 43,869 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Suncor Energy were worth $4,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cullen Investment Group LTD. boosted its stake in shares of Suncor Energy by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after acquiring an additional 262 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Suncor Energy by 6.1% in the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 281 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Suncor Energy by 11.0% during the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after buying an additional 325 shares during the last quarter. Richardson Financial Services Inc. raised its position in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Suncor Energy by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SU shares. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Scotiabank decreased their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Wolfe Research began coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Stock Performance

NYSE:SU opened at $37.77 on Friday. The company has a market cap of $48.40 billion, a P/E ratio of 8.41, a P/E/G ratio of 2.76 and a beta of 1.12. The firm’s 50 day moving average is $38.60 and its two-hundred day moving average is $38.73. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. 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 (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. Analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced 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. This represents a $1.58 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.86%.

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.