NewEdge Wealth LLC Has $30.67 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

NewEdge Wealth LLC boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 859,707 shares of the oil and gas producer’s stock after buying an additional 127,237 shares during the period. NewEdge Wealth LLC’s holdings in Suncor Energy were worth $30,674,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SU. HHM Wealth Advisors LLC lifted its holdings in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy in the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC bought a new stake in Suncor Energy in the fourth quarter worth approximately $45,000. UMB Bank n.a. boosted its holdings in Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 300 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Suncor Energy by 35.4% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the oil and gas producer’s stock valued at $75,000 after acquiring an additional 497 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Trading Down 1.0 %

Suncor Energy stock opened at $38.26 on Thursday. The company has a market cap of $47.62 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 2.94 and a beta of 1.12. The firm has a 50-day moving average of $38.13 and a 200-day moving average of $38.65. 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 Inc. has a one year low of $33.26 and a one year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, equities analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is presently 45.22%.

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.