Envestnet Asset Management Inc. Has $25.02 Million Holdings in Suncor Energy Inc. (NYSE:SU)

Envestnet Asset Management Inc. lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 656,635 shares of the oil and gas producer’s stock after purchasing an additional 36,069 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Suncor Energy were worth $25,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. bought a new position in Suncor Energy in the 4th quarter valued at $25,000. Trust Co. of Vermont bought a new position in Suncor Energy in the 2nd quarter valued at $26,000. Summit Securities Group LLC bought a new position in Suncor Energy in the 2nd quarter valued at $27,000. Finally, Ridgewood Investments LLC bought a new position in Suncor Energy in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.4 %

Shares of Suncor Energy stock opened at $37.21 on Friday. 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. The business has a fifty day simple moving average of $38.90 and a 200 day simple moving average of $38.36. The stock has a market cap of $47.69 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Research analysts predict that Suncor Energy Inc. will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.25%. Suncor Energy’s dividend payout ratio is currently 35.86%.

Analysts Set New Price Targets

Several brokerages have issued reports on SU. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James upgraded Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, Scotiabank dropped their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy has a consensus 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.