Stonehage Fleming Financial Services Holdings Ltd Acquires Shares of 24,719 Suncor Energy Inc. $SU

Stonehage Fleming Financial Services Holdings Ltd bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,719 shares of the oil and gas producer’s stock, valued at approximately $1,327,000.

Several other hedge funds have also recently made changes to their positions in SU. Intact Investment Management Inc. boosted its holdings in Suncor Energy by 36.3% in the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after acquiring an additional 451,110 shares in the last quarter. Vanguard Group Inc. raised its holdings in Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after purchasing an additional 1,166,405 shares in the last quarter. Harvest Portfolios Group Inc. lifted its position in shares of Suncor Energy by 9.1% in the 4th quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock worth $16,008,000 after purchasing an additional 30,210 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after purchasing an additional 411,243 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Suncor Energy by 6.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock valued at $55,802,000 after purchasing an additional 50,502 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SU shares. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.25.

Suncor Energy Price Performance

SU stock opened at $66.43 on Friday. The firm has a 50 day moving average price of $61.73 and a 200-day moving average price of $62.03. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The firm has a market capitalization of $78.44 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.47 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

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

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is 32.04%.

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.