Net Worth Advisory Group Makes New $286,000 Investment in Suncor Energy Inc. (NYSE:SU)

Net Worth Advisory Group acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 3rd quarter, Holdings Channel reports. The fund acquired 7,758 shares of the oil and gas producer’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also made changes to their positions in SU. Toronto Dominion Bank raised its stake in 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 acquiring an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of 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 purchasing an additional 3,951,287 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after purchasing an additional 3,272,896 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Suncor Energy by 305.9% in the first 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 buying an additional 1,300,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Suncor Energy by 5.1% in 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 buying an additional 1,209,073 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $39.10 on Monday. The firm has a market cap of $50.11 billion, a PE ratio of 8.71, a P/E/G ratio of 2.69 and a beta of 1.12. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month 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. The business has a 50-day moving average price of $39.03 and a 200 day moving average price of $38.74.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 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 business 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 business earned $0.71 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.04%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is 35.86%.

Analyst Upgrades and Downgrades

SU has been the topic of several recent research reports. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Scotiabank lowered 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 report on Friday, July 12th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

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.