IFP Advisors Inc decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,024 shares of the oil and gas producer’s stock after selling 668 shares during the period. IFP Advisors Inc’s holdings in Suncor Energy were worth $176,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its stake in Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 42 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 238 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Suncor Energy during the fourth quarter worth $152,000. Whittier Trust Co. of Nevada Inc. increased its stake in Suncor Energy by 680.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 5,735 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 5,000 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Suncor Energy during the first quarter worth $191,000. Institutional investors own 65.59% of the company’s stock.
Suncor Energy Inc. (SU) opened at 31.08 on Wednesday. Suncor Energy Inc. has a 12-month low of $25.70 and a 12-month high of $33.79. The firm has a 50-day moving average of $31.03 and a 200-day moving average of $30.93. The firm has a market cap of $51.57 billion, a P/E ratio of 24.41 and a beta of 0.82.
Suncor Energy announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Tuesday, September 5th will be given a $0.2552 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.28%. This is a boost from Suncor Energy ‘s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, August 31st. Suncor Energy ‘s dividend payout ratio is 77.87%.
A number of research firms have recently weighed in on SU. BidaskClub downgraded shares of Suncor Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Citigroup Inc. reissued a “buy” rating on shares of Suncor Energy in a research report on Wednesday, August 2nd. AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. Barclays PLC reissued an “overweight” rating and set a $52.00 price target (up previously from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies decreased their price target on shares of Suncor Energy from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Suncor Energy presently has an average rating of “Buy” and an average price target of $42.86.
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.
Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU) (TSE:SU).
Receive News & Ratings for Suncor Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.