Suncor Energy Inc. $SU Shares Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,752 shares of the oil and gas producer’s stock after purchasing an additional 4,332 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Suncor Energy were worth $2,725,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Maseco LLP acquired a new stake in Suncor Energy in the 2nd quarter valued at $32,000. N.E.W. Advisory Services LLC acquired a new stake in Suncor Energy in the 1st quarter valued at $36,000. Wayfinding Financial LLC acquired a new stake in Suncor Energy in the 1st quarter valued at $42,000. Harbour Investments Inc. increased its holdings in Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 469 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in 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 valued at $53,000 after purchasing an additional 309 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on SU shares. Wells Fargo & Company started coverage on Suncor Energy in a report on Friday. They issued an “equal weight” rating for the company. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Stock Down 0.1%

Shares of Suncor Energy stock opened at $38.54 on Monday. The business has a 50-day moving average of $40.70 and a 200-day moving average of $38.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The company has a market capitalization of $46.60 billion, a PE ratio of 11.86, a P/E/G ratio of 3.05 and a beta of 0.78. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period last year, the firm earned $1.27 earnings per share. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy’s payout ratio is 51.08%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.