Advisors Asset Management Inc. Has $1.65 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Advisors Asset Management Inc. boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,721 shares of the oil and gas producer’s stock after purchasing an additional 3,105 shares during the quarter. Advisors Asset Management Inc.’s holdings in Suncor Energy were worth $1,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 2,895 shares during the last quarter. Sanders Capital LLC boosted its stake in Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after buying an additional 1,568,629 shares in the last quarter. Sapient Capital LLC bought a new position in Suncor Energy in the fourth quarter valued at about $1,100,000. NewEdge Wealth LLC grew its position in Suncor Energy by 9.9% in the fourth quarter. NewEdge Wealth LLC now owns 587,664 shares of the oil and gas producer’s stock valued at $18,829,000 after acquiring an additional 52,802 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Suncor Energy by 2,358.4% during the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after acquiring an additional 16,509 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SU shares. The Goldman Sachs Group raised their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Finally, TD Securities upped their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $54.75.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $38.50 on Friday. The stock has a market cap of $49.34 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 3.50 and a beta of 1.12. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.50. The company’s fifty day moving average is $38.46 and its 200 day moving average is $36.61. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. Sell-side analysts forecast that Suncor Energy Inc. will post 3.67 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio is presently 35.41%.

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.