Suncor Energy Inc. (NYSE:SU) Stake Lessened by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.0% during the second quarter, Holdings Channel.com reports. The fund owned 5,736 shares of the oil and gas producer’s stock after selling 3,672 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Suncor Energy were worth $219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at about $25,000. Trust Co. of Vermont bought a new stake in Suncor Energy during the second quarter worth approximately $26,000. Summit Securities Group LLC bought a new stake in Suncor Energy during the second quarter worth approximately $27,000. Ridgewood Investments LLC acquired a new position in Suncor Energy in the second quarter worth approximately $29,000. Finally, Adirondack Trust Co. lifted its position in shares of Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SU shares. Scotiabank decreased their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. BMO Capital Markets upgraded 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 research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Stock Performance

SU stock opened at $39.52 on Thursday. The firm has a 50 day simple moving average of $38.86 and a 200 day simple moving average of $38.61. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The stock has a market cap of $50.05 billion, a P/E ratio of 8.80, a P/E/G ratio of 2.69 and a beta of 1.12. 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 (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.00%. Suncor Energy’s dividend payout ratio (DPR) is currently 36.08%.

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.