Orion Porfolio Solutions LLC Sells 36,169 Shares of Suncor Energy Inc. $SU

Orion Porfolio Solutions LLC lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 55.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,389 shares of the oil and gas producer’s stock after selling 36,169 shares during the period. Orion Porfolio Solutions LLC’s holdings in Suncor Energy were worth $1,101,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at $31,000. Maseco LLP bought a new position in shares of Suncor Energy in the second quarter valued at $32,000. Atlantic Union Bankshares Corp acquired a new position in shares of Suncor Energy during the second quarter valued at about $37,000. MTM Investment Management LLC bought a new stake in shares of Suncor Energy during the second quarter worth about $44,000. Finally, IFP Advisors Inc raised its holdings in shares of Suncor Energy by 27.6% in the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 309 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

Shares of SU opened at $43.15 on Wednesday. The stock has a 50 day moving average of $42.47 and a 200 day moving average of $40.85. The company has a market capitalization of $51.85 billion, a price-to-earnings ratio of 14.15 and a beta of 0.46. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $45.60. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the company earned $1.48 EPS. As a group, sell-side 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 will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.6%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Wednesday, December 3rd. Suncor Energy’s dividend payout ratio is 56.39%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SU. Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company assumed coverage on Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Company 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.