Dockside LLC Takes Position in Suncor Energy Inc. $SU

Key Points

• Dockside LLC bought 45,444 Suncor Energy shares in the second quarter, valued at approximately $2.44 million. Institutional investors collectively own 67.37% of the company.
• Analyst views remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $71.67, although Goldman Sachs downgraded the stock to neutral and Zacks moved it to hold.
• Suncor reported quarterly EPS of $2.33, beating estimates of $2.14, and revenue of $13.41 billion. The company also declared a quarterly dividend of $0.60 per share, equivalent to a 3.6% annualized yield.

Dockside LLC bought a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 45,444 shares of the oil and gas producer's stock, valued at approximately $2,439,000.

A number of other institutional investors have also bought and sold shares of the business. Gradient Investments LLC lifted its position in shares of Suncor Energy by 2.9% in the second quarter. Gradient Investments LLC now owns 119,099 shares of the oil and gas producer's stock valued at $6,393,000 after acquiring an additional 3,333 shares in the last quarter. Balefire LLC purchased a new stake in shares of Suncor Energy during the second quarter worth about $638,000. Baron Wealth Management LLC raised its stake in Suncor Energy by 3.0% during the 2nd quarter. Baron Wealth Management LLC now owns 11,981 shares of the oil and gas producer's stock valued at $643,000 after purchasing an additional 345 shares during the period. Grove Bank & Trust bought a new stake in Suncor Energy during the 2nd quarter valued at approximately $439,000. Finally, Pacific Excel Wealth Advisors Inc. purchased a new position in Suncor Energy in the 2nd quarter worth approximately $308,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SU shares. The Goldman Sachs Group downgraded Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Zacks Research cut shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.67.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $65.85 on Friday. The firm has a fifty day simple moving average of $60.44 and a two-hundred day simple moving average of $61.08. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29. 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 stock has a market capitalization of $77.75 billion, a P/E ratio of 12.13, a PEG ratio of 0.49 and a beta of 0.30.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter last year, the firm earned $0.71 EPS. On average, analysts expect that Suncor Energy Inc. will post 7.13 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

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

Suncor Energy Company 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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