Dockside LLC Invests $2.44 Million in Suncor Energy Inc. $SU

Dockside LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 45,444 shares of the oil and gas producer’s stock, valued at approximately $2,439,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 398 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 225 shares during the period. 1 North Wealth Services LLC purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Suncor Energy during the first quarter valued at approximately $53,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the second quarter worth approximately $31,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 0.6%

NYSE:SU opened at $65.85 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a 50-day moving average of $60.44 and a 200 day moving average of $61.08. The firm has a market cap of $77.75 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, research analysts anticipate that Suncor Energy Inc. will post 7.13 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 32.04%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy 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.