NewEdge Wealth LLC Acquires 127,237 Shares of Suncor Energy Inc. (NYSE:SU)

NewEdge Wealth LLC lifted its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 859,707 shares of the oil and gas producer's stock after acquiring an additional 127,237 shares during the quarter. NewEdge Wealth LLC owned 0.07% of Suncor Energy worth $30,674,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SU. Simmons Bank boosted its holdings in Suncor Energy by 3.6% during the fourth quarter. Simmons Bank now owns 44,128 shares of the oil and gas producer's stock worth $1,574,000 after buying an additional 1,515 shares in the last quarter. Sabal Trust CO grew its position in shares of Suncor Energy by 8.5% in the fourth quarter. Sabal Trust CO now owns 50,427 shares of the oil and gas producer's stock valued at $1,799,000 after purchasing an additional 3,946 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock worth $110,017,000 after acquiring an additional 1,573,726 shares during the last quarter. South Dakota Investment Council acquired a new position in Suncor Energy during the fourth quarter worth approximately $1,998,000. Finally, Panview Capital Ltd purchased a new position in shares of Suncor Energy in the 4th quarter worth $12,096,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SU. Cibc World Mkts upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Bank of America started coverage on shares of Suncor Energy in a research report on Wednesday. They issued a "neutral" rating on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up $0.08 on Friday, hitting $38.28. The company had a trading volume of 3,809,095 shares, compared to its average volume of 4,401,910. Suncor Energy Inc. has a 52 week low of $33.79 and a 52 week high of $41.94. The company has a market cap of $47.64 billion, a PE ratio of 11.10, a PEG ratio of 2.94 and a beta of 1.12. The business has a 50-day simple moving average of $38.28 and a 200-day simple moving average of $38.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.17%. Suncor Energy's payout ratio is currently 45.22%.

Suncor Energy Company 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.