Addenda Capital Inc. reduced its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,509,301 shares of the oil and gas producer’s stock after selling 51,625 shares during the quarter. Suncor Energy comprises 3.4% of Addenda Capital Inc.’s holdings, making the stock its 8th largest holding. Addenda Capital Inc. owned 0.10% of Suncor Energy worth $47,181,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Acima Private Wealth LLC boosted its position in shares of Suncor Energy by 28.3% during the first quarter. Acima Private Wealth LLC now owns 1,450 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 320 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Suncor Energy by 10.4% in the first quarter. Global Retirement Partners LLC now owns 3,769 shares of the oil and gas producer’s stock valued at $122,000 after buying an additional 354 shares during the period. KCS Wealth Advisory raised its stake in shares of Suncor Energy by 1.7% in the first quarter. KCS Wealth Advisory now owns 24,374 shares of the oil and gas producer’s stock valued at $790,000 after buying an additional 416 shares during the period. Thomas J. Herzfeld Advisors Inc. raised its stake in shares of Suncor Energy by 39.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,468 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 419 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Suncor Energy by 65.5% in the first quarter. Lindbrook Capital LLC now owns 1,064 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 421 shares during the period. Institutional investors and hedge funds own 65.14% of the company’s stock.
Several analysts have issued reports on SU shares. Mizuho set a $208.00 target price on Amgen and gave the company a “buy” rating in a research note on Monday, April 22nd. ValuEngine upgraded Zuora from a “hold” rating to a “buy” rating in a research note on Saturday, July 6th. GMP Securities restated a “hold” rating and issued a $48.00 target price on shares of Suncor Energy in a research note on Tuesday, May 7th. BMO Capital Markets set a $45.00 target price on Chemours and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Zacks Investment Research upgraded Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company. Suncor Energy has an average rating of “Buy” and an average price target of $47.48.
Shares of NYSE:SU traded down $0.17 during midday trading on Tuesday, reaching $30.99. 2,019,306 shares of the company traded hands, compared to its average volume of 3,207,015. The company has a quick ratio of 0.56, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. Suncor Energy Inc. has a 12 month low of $25.81 and a 12 month high of $42.55. The company has a market capitalization of $48.85 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. The business’s fifty day moving average price is $31.29.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.38. Suncor Energy had a return on equity of 10.06% and a net margin of 10.03%. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $7.06 billion. During the same period in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 2.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were paid a $0.3121 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.25 dividend on an annualized basis and a yield of 4.03%. Suncor Energy’s dividend payout ratio is currently 62.00%.
About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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