Suncor Energy Inc. $SU Shares Purchased by TrueMark Investments LLC

TrueMark Investments LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,486 shares of the oil and gas producer’s stock after purchasing an additional 5,014 shares during the quarter. TrueMark Investments LLC’s holdings in Suncor Energy were worth $1,217,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Maseco LLP acquired a new stake in shares of Suncor Energy in the 2nd quarter worth $32,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Suncor Energy in the 1st quarter worth $36,000. Wayfinding Financial LLC acquired a new stake in shares of Suncor Energy in the 1st quarter worth $42,000. ORG Wealth Partners LLC acquired a new stake in shares of Suncor Energy in the 1st quarter worth $44,000. Finally, Harbour Investments Inc. boosted its position in shares of Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent analyst reports. Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Finally, Wells Fargo & Company initiated coverage on Suncor Energy in a research note on Friday. They issued an “equal weight” rating for the company. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy Stock Performance

NYSE SU opened at $38.54 on Friday. The stock has a 50-day simple moving average of $40.70 and a two-hundred day simple moving average of $38.26. The firm has a market capitalization of $46.60 billion, a P/E ratio of 11.86, a PEG ratio of 3.05 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. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26.

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

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Thursday, September 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio (DPR) is 50.77%.

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.