Suncor Energy Inc. (NYSE:SU) Shares Bought by Balentine LLC

Balentine LLC raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.4% 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 14,843 shares of the oil and gas producer’s stock after acquiring an additional 1,281 shares during the quarter. Balentine LLC’s holdings in Suncor Energy were worth $476,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Coldstream Capital Management Inc. purchased a new position in shares of Suncor Energy in the 4th quarter valued at about $243,000. Hillsdale Investment Management Inc. lifted its stake in Suncor Energy by 229.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 297,566 shares of the oil and gas producer’s stock worth $9,537,000 after purchasing an additional 207,200 shares during the last quarter. AMG National Trust Bank increased its position in Suncor Energy by 1.5% during the fourth quarter. AMG National Trust Bank now owns 67,114 shares of the oil and gas producer’s stock worth $2,150,000 after buying an additional 970 shares during the period. Independent Advisor Alliance acquired a new position in Suncor Energy during the fourth quarter worth approximately $1,704,000. Finally, Fiera Capital Corp increased its holdings in shares of Suncor Energy by 22.6% in the fourth quarter. Fiera Capital Corp now owns 1,136,559 shares of the oil and gas producer’s stock valued at $36,540,000 after purchasing an additional 209,477 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Morgan Stanley upped their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Suncor Energy Stock Down 0.5 %

SU opened at $40.85 on Wednesday. The business’s fifty day moving average is $38.20 and its two-hundred day moving average is $34.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market cap of $52.53 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 3.50 and a beta of 1.11. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $41.28.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The company had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. During the same period in the previous year, the business earned $1.33 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 3.79 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be given a $0.395 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 annualized dividend and a dividend yield of 3.87%. Suncor Energy’s dividend payout ratio is currently 35.86%.

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.