Steph & Co. Trims Stock Position in Suncor Energy Inc. (NYSE:SU)

Steph & Co. decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,890 shares of the oil and gas producer’s stock after selling 560 shares during the quarter. Steph & Co.’s holdings in Suncor Energy were worth $383,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in SU. Hanson & Doremus Investment Management boosted its holdings in shares of Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 405 shares during the period. Crowley Wealth Management Inc. purchased a new stake in Suncor Energy in the 4th quarter valued at approximately $35,000. Lee Danner & Bass Inc. acquired a new position in Suncor Energy during the 4th quarter worth approximately $36,000. Finally, Covestor Ltd raised its stake in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Finally, Scotiabank raised shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.67.

Suncor Energy Stock Down 1.8%

Suncor Energy stock opened at $38.29 on Wednesday. The firm has a market capitalization of $46.81 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The stock’s fifty day moving average is $36.44 and its two-hundred day moving average is $36.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period last year, the firm posted $1.41 EPS. Analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a $0.4133 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.32%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is presently 47.84%.

Suncor Energy Profile

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.