Raymond James & Associates Buys 41,206 Shares of Suncor Energy Inc. (NYSE:SU)

Raymond James & Associates raised its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 466,969 shares of the oil and gas producer's stock after buying an additional 41,206 shares during the quarter. Raymond James & Associates' holdings in Suncor Energy were worth $17,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at $27,000. Richardson Financial Services Inc. lifted its stake in shares of Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 328 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Suncor Energy in the second quarter worth $29,000. Finally, ORG Partners LLC acquired a new position in Suncor Energy during the second quarter worth $43,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

Suncor Energy stock traded up $0.45 during trading hours on Friday, hitting $38.96. 1,690,208 shares of the stock were exchanged, compared to its average volume of 4,286,849. The stock has a market capitalization of $49.93 billion, a P/E ratio of 8.68, a P/E/G ratio of 2.78 and a beta of 1.12. The business's 50-day moving average is $38.80 and its two-hundred day moving average is $38.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. The company 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 business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities research analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 35.86%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 7th. Scotiabank cut their price objective 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. StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. TD Securities upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.