Suncor Energy Inc. $SU Stock Position Lessened by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 38.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,897 shares of the oil and gas producer’s stock after selling 36,101 shares during the period. Miller Howard Investments Inc. NY’s holdings in Suncor Energy were worth $3,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Viewpoint Investment Partners Corp increased its stake in shares of Suncor Energy by 43.1% during the third quarter. Viewpoint Investment Partners Corp now owns 43,835 shares of the oil and gas producer’s stock worth $2,973,000 after purchasing an additional 13,200 shares during the period. Apollon Wealth Management LLC acquired a new stake in Suncor Energy during the 3rd quarter worth approximately $217,000. Live Oak Investment Partners lifted its holdings in Suncor Energy by 1.3% during the 3rd quarter. Live Oak Investment Partners now owns 33,959 shares of the oil and gas producer’s stock worth $2,305,000 after purchasing an additional 436 shares during the last quarter. Signaturefd LLC boosted its stake in Suncor Energy by 8.7% in the 3rd quarter. Signaturefd LLC now owns 43,395 shares of the oil and gas producer’s stock valued at $2,945,000 after purchasing an additional 3,458 shares during the period. Finally, Citizens Financial Group Inc. RI bought a new stake in Suncor Energy in the 3rd quarter valued at $284,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Morgan Stanley set a $106.00 target price on Suncor Energy in a report on Wednesday, August 19th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Buy” and an average price target of $79.62.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $79.50 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company has a market cap of $92.99 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.36. The company has a 50 day moving average of $69.97 and a 200-day moving average of $62.47. Suncor Energy Inc. has a 1-year low of $38.72 and a 1-year high of $80.25.

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 (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter last year, the business posted $0.71 EPS. As a group, equities research analysts forecast that Suncor Energy Inc. will post 8.76 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were paid a dividend of C$0.60 per share. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.0%. Suncor Energy’s dividend payout ratio is presently 31.86%.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.