Burling Wealth Partners LLC Raises Stake in Suncor Energy Inc. $SU

Burling Wealth Partners LLC grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 22.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,712 shares of the oil and gas producer’s stock after purchasing an additional 13,878 shares during the quarter. Burling Wealth Partners LLC’s holdings in Suncor Energy were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Formidable Asset Management LLC lifted its stake in shares of Suncor Energy by 1.1% during the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after buying an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in Suncor Energy by 0.8% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after buying an additional 190 shares in the last quarter. IFP Advisors Inc raised its holdings in Suncor Energy by 22.6% during the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 193 shares during the period. DGS Capital Management LLC raised its holdings in Suncor Energy by 3.2% during the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 193 shares during the period. Finally, Bryn Mawr Trust Advisors LLC raised its holdings in Suncor Energy by 3.5% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock valued at $255,000 after acquiring an additional 196 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.2%

Shares of Suncor Energy stock opened at $62.28 on Tuesday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $61.06 and a 200-day moving average price of $58.91. The firm has a market cap of $73.54 billion, a price-to-earnings ratio of 16.35 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities research analysts anticipate that Suncor Energy Inc. will post 6.9 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio is 45.41%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SU. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada lifted their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Buy” and an average target price of $71.67.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.