First Horizon Advisors Inc. Cuts Holdings in Suncor Energy Inc. (NYSE:SU)

First Horizon Advisors Inc. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,730 shares of the oil and gas producer’s stock after selling 627 shares during the period. First Horizon Advisors Inc.’s holdings in Suncor Energy were worth $152,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of Suncor Energy by 16.1% during the third quarter. Raymond James & Associates now owns 739,652 shares of the oil and gas producer’s stock worth $25,429,000 after purchasing an additional 102,412 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Suncor Energy during the 3rd quarter worth about $715,000. Verdence Capital Advisors LLC increased its holdings in shares of Suncor Energy by 3.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 28,181 shares of the oil and gas producer’s stock valued at $969,000 after acquiring an additional 975 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Suncor Energy by 60.8% during the 3rd quarter. Park Avenue Securities LLC now owns 45,390 shares of the oil and gas producer’s stock worth $1,560,000 after acquiring an additional 17,161 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in Suncor Energy by 63.3% during the third quarter. CENTRAL TRUST Co now owns 3,266 shares of the oil and gas producer’s stock worth $112,000 after purchasing an additional 1,266 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $38.88 on Tuesday. The stock has a market capitalization of $50.04 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 3.38 and a beta of 1.11. The firm’s fifty day simple moving average is $37.05 and its 200-day simple moving average is $34.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. Suncor Energy Inc. has a 12 month low of $27.59 and a 12 month high of $39.73.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The business had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.77 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a $0.406 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Friday, March 1st. Suncor Energy’s dividend payout ratio (DPR) is 34.26%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SU shares. Morgan Stanley raised their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $52.00.

Suncor Energy Profile

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.