Heron Bay Capital Management Acquires Shares of 8,882 Suncor Energy Inc. $SU

Heron Bay Capital Management acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,882 shares of the oil and gas producer’s stock, valued at approximately $477,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 398 shares during the last quarter. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy in the fourth quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Suncor Energy in the first quarter valued at approximately $53,000. Headlands Technologies LLC bought a new position in shares of Suncor Energy during the second quarter worth approximately $31,000. Finally, Accent Capital Management LLC increased its stake in shares of Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

SU opened at $68.46 on Friday. The firm has a market cap of $80.83 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The business’s fifty day moving average is $61.02 and its 200-day moving average is $61.61.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy’s payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SU. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research report on Wednesday. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.25.

About Suncor Energy

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.