Marks Group Wealth Management Inc Lowers Position in Suncor Energy Inc. (NYSE:SU)

Marks Group Wealth Management Inc decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,946 shares of the oil and gas producer’s stock after selling 1,034 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Suncor Energy were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC purchased a new stake in shares of Suncor Energy during the third quarter valued at approximately $29,000. Optiver Holding B.V. purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at $29,000. Headinvest LLC bought a new stake in shares of Suncor Energy during the 3rd quarter worth $40,000. Private Trust Co. NA boosted its holdings in shares of Suncor Energy by 38.4% in the 3rd quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after buying an additional 339 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Suncor Energy during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU traded up $0.10 during trading hours on Tuesday, hitting $39.18. The company’s stock had a trading volume of 1,545,354 shares, compared to its average volume of 4,301,142. The business has a 50 day simple moving average of $35.88 and a two-hundred day simple moving average of $33.74. Suncor Energy Inc. has a 52-week low of $27.59 and a 52-week high of $39.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The company has a market cap of $50.43 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 3.40 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.13. The firm had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same quarter in the prior year, the business posted $1.33 earnings per share. On average, equities analysts expect that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a $0.406 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.14%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio (DPR) is currently 34.26%.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.