First Foundation Advisors Lowers Stock Holdings in Suncor Energy Inc. (NYSE:SU)

First Foundation Advisors lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,554 shares of the oil and gas producer’s stock after selling 30,073 shares during the period. First Foundation Advisors’ holdings in Suncor Energy were worth $21,738,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SU. Toronto Dominion Bank increased its holdings in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares during the period. TD Asset Management Inc raised its holdings in shares of Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after acquiring an additional 4,612,764 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 90.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Suncor Energy by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after purchasing an additional 1,725,969 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SU. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Scotiabank reduced their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.86.

Suncor Energy Stock Down 1.8 %

Shares of NYSE:SU opened at $37.32 on Monday. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock’s 50-day moving average price is $39.18 and its 200-day moving average price is $38.20. The stock has a market capitalization of $47.41 billion, a P/E ratio of 8.31, a price-to-earnings-growth ratio of 2.51 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same period last year, the company earned $0.71 EPS. Suncor Energy’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.23%. Suncor Energy’s dividend payout ratio is currently 35.19%.

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.