Huntington National Bank Reduces Holdings in Suncor Energy Inc. $SU

Huntington National Bank reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,858 shares of the oil and gas producer’s stock after selling 2,859 shares during the period. Huntington National Bank’s holdings in Suncor Energy were worth $669,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SU. DekaBank Deutsche Girozentrale grew its position in shares of Suncor Energy by 1.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 700,698 shares of the oil and gas producer’s stock valued at $26,712,000 after acquiring an additional 9,067 shares during the period. Cerity Partners LLC lifted its position in Suncor Energy by 75.7% during the first quarter. Cerity Partners LLC now owns 72,121 shares of the oil and gas producer’s stock valued at $2,793,000 after purchasing an additional 31,077 shares in the last quarter. Genus Capital Management Inc. grew its holdings in Suncor Energy by 209.8% during the first quarter. Genus Capital Management Inc. now owns 206,871 shares of the oil and gas producer’s stock valued at $8,009,000 after purchasing an additional 395,292 shares during the period. Oxbow Advisors LLC grew its holdings in Suncor Energy by 3.1% during the first quarter. Oxbow Advisors LLC now owns 101,672 shares of the oil and gas producer’s stock valued at $3,937,000 after purchasing an additional 3,020 shares during the period. Finally, MQS Management LLC purchased a new stake in Suncor Energy in the first quarter worth about $701,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Trading Up 1.8%

Suncor Energy stock opened at $41.97 on Friday. The stock has a market cap of $50.63 billion, a P/E ratio of 12.91, a PEG ratio of 3.52 and a beta of 0.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $43.48. The firm’s 50 day moving average price is $40.79 and its 200-day moving average price is $38.86.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter in the prior year, the business earned $1.48 earnings per share. On average, equities analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.7%. Suncor Energy’s dividend payout ratio (DPR) is 54.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating on the stock. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $65.00.

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.