Suncor Energy Inc. (NYSE:SU) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 52.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,593 shares of the oil and gas producer's stock after acquiring an additional 13,674 shares during the quarter. NewEdge Advisors LLC's holdings in Suncor Energy were worth $1,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Richardson Financial Services Inc. purchased a new stake in Suncor Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in Suncor Energy during the second quarter valued at $26,000. Summit Securities Group LLC bought a new stake in Suncor Energy during the second quarter valued at about $27,000. Ridgewood Investments LLC purchased a new stake in Suncor Energy in the second quarter worth about $29,000. Finally, Adirondack Trust Co. raised its stake in shares of Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer's stock worth $34,000 after buying an additional 313 shares during the period. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Saturday, September 28th. TD Securities upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Scotiabank dropped 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 raised shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 7th. Finally, Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an "outperform" rating and a $68.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average price target of $55.83.

Suncor Energy Stock Up 1.2 %

Suncor Energy stock traded up $0.46 during trading hours on Friday, reaching $39.97. The stock had a trading volume of 4,133,792 shares, compared to its average volume of 4,072,542. The company has a market cap of $50.62 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 2.60 and a beta of 1.12. The business's 50 day moving average price is $38.79 and its 200-day moving average price is $38.56. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $9.30 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 3.95%. Suncor Energy's dividend payout ratio (DPR) is presently 36.08%.

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.