Benjamin Edwards Inc. Purchases 15,889 Shares of Suncor Energy Inc. $SU

Key Points

• Benjamin Edwards Inc. increased its Suncor Energy stake by 79.8% in the second quarter, purchasing 15,889 additional shares for a total holding of 35,795 shares valued at approximately $1.92 million. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly earnings of $2.33 per share, exceeding estimates of $2.14, while revenue reached $13.41 billion versus the $11.68 billion consensus forecast.
• The company declared a quarterly dividend of $0.60 per share, representing an annualized payout of $2.40 and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $80.25.

Benjamin Edwards Inc. increased its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 79.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,795 shares of the oil and gas producer's stock after buying an additional 15,889 shares during the period. Benjamin Edwards Inc.'s holdings in Suncor Energy were worth $1,921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intact Investment Management Inc. lifted its holdings in shares of Suncor Energy by 36.3% in the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer's stock worth $75,236,000 after buying an additional 451,110 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in Suncor Energy by 9.1% during the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer's stock valued at $16,008,000 after acquiring an additional 30,210 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock valued at $833,622,000 after acquiring an additional 411,243 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Suncor Energy by 6.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer's stock valued at $55,802,000 after acquiring an additional 50,502 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Suncor Energy by 217.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 826,617 shares of the oil and gas producer's stock worth $36,754,000 after purchasing an additional 566,195 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Up 2.1%

SU stock opened at $66.82 on Tuesday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The stock has a market capitalization of $78.90 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm's fifty day simple moving average is $62.14 and its two-hundred day simple moving average is $62.20.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analysts' expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the previous year, the company earned $0.71 EPS. As a group, analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy's dividend payout ratio is currently 32.04%.

Analysts Set New Price Targets

A number of research firms recently commented on SU. Desjardins upgraded Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Zacks Research downgraded Suncor Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Finally, Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.25.

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.

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