Burling Wealth Partners LLC Acquires 11,507 Shares of Suncor Energy Inc. $SU

Burling Wealth Partners LLC raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 23.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 60,834 shares of the oil and gas producer’s stock after buying an additional 11,507 shares during the quarter. Burling Wealth Partners LLC’s holdings in Suncor Energy were worth $2,699,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after purchasing an additional 7,158,953 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Suncor Energy by 62.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after purchasing an additional 5,113,280 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Suncor Energy by 334.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock valued at $108,324,000 after buying an additional 1,995,007 shares during the last quarter. Bank of Nova Scotia raised its stake in Suncor Energy by 63.5% during the third quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock valued at $210,474,000 after buying an additional 1,952,444 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Suncor Energy by 173.2% during the third quarter. Lazard Asset Management LLC now owns 3,036,031 shares of the oil and gas producer’s stock valued at $126,994,000 after buying an additional 1,924,923 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 2.5%

SU stock opened at $67.89 on Thursday. Suncor Energy Inc. has a 1-year low of $34.67 and a 1-year high of $70.29. The business has a fifty day moving average price of $64.47 and a 200-day moving average price of $53.93. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a market capitalization of $80.16 billion, a P/E ratio of 17.82 and a beta of 0.31.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. Equities analysts forecast that Suncor Energy Inc. will post 6.79 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy’s payout ratio is currently 46.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets upgraded 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 price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $72.00.

Suncor Energy 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.