Goldstein Advisors LLC Reduces Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Goldstein Advisors LLC reduced its holdings in Suncor Energy by 65%, selling nearly 10,000 shares to end the quarter with 5,382 shares valued at $202,000.
• Suncor Energy's stock received mixed ratings from analysts, with a current average rating of "Moderate Buy" and a target price of $65.00.
• The company declared a quarterly dividend of $0.4135, up from $0.41, yielding approximately 4.3% annually.

Goldstein Advisors LLC lowered its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 65.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,382 shares of the oil and gas producer's stock after selling 9,980 shares during the quarter. Goldstein Advisors LLC's holdings in Suncor Energy were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SU. Maseco LLP purchased a new position in shares of Suncor Energy in the second quarter valued at $32,000. N.E.W. Advisory Services LLC purchased a new position in shares of Suncor Energy in the first quarter valued at $36,000. Wayfinding Financial LLC purchased a new position in shares of Suncor Energy in the first quarter valued at $42,000. Harbour Investments Inc. increased its position in shares of Suncor Energy by 67.0% in the first quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 469 shares in the last quarter. Finally, IFP Advisors Inc increased its position in shares of Suncor Energy by 27.6% in the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock valued at $53,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Wells Fargo & Company began coverage on Suncor Energy in a research note on Friday. They set an "equal weight" rating on the stock. Finally, Zacks Research lowered Suncor Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.00.

Suncor Energy Stock Down 0.1%

Shares of NYSE:SU opened at $38.54 on Monday. The stock's 50-day moving average price is $40.70 and its two-hundred day moving average price is $38.27. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The firm has a market cap of $46.60 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 3.05 and a beta of 0.78.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same period last year, the company earned $1.27 EPS. On average, research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were paid a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is 51.08%.

About Suncor Energy

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.

Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.