Ieq Capital LLC Takes $954,000 Position in Suncor Energy Inc. $SU

Key Points

• Ieq Capital LLC acquired 17,776 Suncor Energy shares during the second quarter, establishing a position worth approximately $954,000. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly EPS of $2.33, beating 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, equivalent to $2.40 annually and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $80.25.

Ieq Capital LLC bought a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 17,776 shares of the oil and gas producer's stock, valued at approximately $954,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 398 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $31,000. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy in the 4th quarter worth approximately $32,000. Accent Capital Management LLC lifted its position in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock worth $37,000 after buying an additional 225 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Suncor Energy during the 4th quarter worth approximately $44,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $66.43 on Friday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The firm has a market cap of $78.44 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 0.47 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The business has a fifty day moving average of $61.73 and a 200-day moving average of $62.03.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. 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 payout ratio is currently 32.04%.

Analyst Ratings Changes

SU has been the topic of a number of analyst reports. The Goldman Sachs Group cut 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. Zacks Research cut Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Finally, Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of "Moderate Buy" and an average target price of $80.25.

About Suncor Energy

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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