Janney Montgomery Scott LLC Boosts Holdings in Suncor Energy Inc. $SU

Janney Montgomery Scott LLC boosted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 36,328 shares of the oil and gas producer’s stock after purchasing an additional 1,076 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Suncor Energy were worth $1,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hanson & Doremus Investment Management lifted its stake in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 405 shares in the last quarter. Maseco LLP purchased a new stake in Suncor Energy in the 2nd quarter worth approximately $32,000. N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy in the 1st quarter worth approximately $36,000. Finally, Wayfinding Financial LLC purchased a new stake in Suncor Energy in the 1st quarter worth approximately $42,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Suncor Energy stock opened at $39.53 on Monday. The firm’s fifty day moving average price is $40.70 and its 200-day moving average price is $38.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a market cap of $47.79 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 3.20 and a beta of 0.78. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter last year, the company posted $1.27 EPS. On average, equities research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were issued a dividend of $0.4135 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 50.77%.

Analysts Set New Price Targets

Several research firms have issued reports on SU. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

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.