Dividend Assets Capital LLC Raises Stake in Suncor Energy Inc. (SU)
Dividend Assets Capital LLC raised its position in Suncor Energy Inc. (NYSE:SU) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,040,069 shares of the company’s stock after buying an additional 18,645 shares during the period. Dividend Assets Capital LLC owned 0.13% of Suncor Energy worth $56,571,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. M&T Bank Corp increased its position in shares of Suncor Energy by 36.8% in the first quarter. M&T Bank Corp now owns 1,458,894 shares of the company’s stock valued at $40,529,000 after buying an additional 392,591 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Suncor Energy by 213.9% in the first quarter. Bessemer Group Inc. now owns 7,299 shares of the company’s stock valued at $203,000 after buying an additional 4,974 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of Suncor Energy during the first quarter valued at $11,932,000. Nikko Asset Management Americas Inc. increased its position in shares of Suncor Energy by 93.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 18,200 shares of the company’s stock valued at $649,000 after buying an additional 8,800 shares in the last quarter. Finally, Botty Investors LLC purchased a new position in shares of Suncor Energy during the first quarter valued at $358,000. 64.08% of the stock is currently owned by institutional investors.
Suncor Energy Inc. (NYSE:SU) traded up 4.87% on Wednesday, reaching $27.15. 6,645,039 shares of the company’s stock were exchanged. The firm’s market cap is $45.19 billion. The firm has a 50 day moving average price of $27.29 and a 200 day moving average price of $27.36. Suncor Energy Inc. has a one year low of $18.71 and a one year high of $30.70.
Suncor Energy (NYSE:SU) last issued its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.15. Suncor Energy had a negative return on equity of 1.59% and a negative net margin of 11.29%. During the same period last year, the company earned $0.63 earnings per share. On average, equities analysts anticipate that Suncor Energy Inc. will post ($0.33) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Tuesday, September 6th were paid a $0.2194 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, September 1st. Suncor Energy’s dividend payout ratio (DPR) is presently -60.54%.
Several equities research analysts have recently issued reports on the stock. Bank of America Corp. assumed coverage on shares of Suncor Energy in a research report on Friday, August 19th. They set a “buy” rating and a $33.00 price objective on the stock. Vetr cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating and set a $31.93 price objective on the stock. in a research report on Tuesday, June 7th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, July 13th. Simmons reduced their price objective on shares of Suncor Energy from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and set a $42.00 price objective (down previously from $43.00) on shares of Suncor Energy in a research report on Thursday, June 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Suncor Energy currently has an average rating of “Buy” and an average price target of $38.19.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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