United Capital Financial Advisors LLC Takes Position in Suncor Energy Inc. $SU

United Capital Financial Advisors LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, HoldingsChannel.com reports. The fund acquired 7,616 shares of the oil and gas producer’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Portfolios Group Inc. raised its position in shares of Suncor Energy by 9.1% during the 4th quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock valued at $16,008,000 after buying an additional 30,210 shares during the period. Dimensional Fund Advisors LP boosted its stake in Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after buying an additional 411,243 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Suncor Energy by 6.3% during the first 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 acquiring an additional 50,502 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Suncor Energy by 217.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 826,617 shares of the oil and gas producer’s stock valued at $36,754,000 after acquiring an additional 566,195 shares during the last quarter. Finally, Walter Public Investments Inc. purchased a new stake in shares of Suncor Energy in the 1st quarter valued at approximately $13,559,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SU shares. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a report on Wednesday, August 19th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Trading Up 3.3%

NYSE SU opened at $69.03 on Wednesday. The firm has a 50 day simple moving average of $62.39 and a 200-day simple moving average of $62.29. 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 Inc. has a one year low of $37.76 and a one year high of $70.29. The firm has a market cap of $81.51 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.48 and a beta of 0.30.

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

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders 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 yield of 3.5%. Suncor Energy’s payout ratio is 32.04%.

About Suncor Energy

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.