Mainstay Capital Management LLC ADV Takes $262,000 Position in Suncor Energy Inc. $SU

Key Points

• Mainstay Capital Management LLC ADV has acquired a new stake in Suncor Energy, purchasing 7,000 shares valued at approximately $262,000 in the second quarter.
• Suncor Energy reported earnings of $0.51 per share, slightly above analysts' expectations, but its revenue of $8.81 billion fell short of the forecasted $11.56 billion.
• The company recently increased its quarterly dividend to $0.4135 per share, resulting in an annualized dividend of $1.65 and a yield of 4.1%.

Mainstay Capital Management LLC ADV acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,000 shares of the oil and gas producer's stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SU. GAMMA Investing LLC increased its position in shares of Suncor Energy by 2,380.2% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the oil and gas producer's stock valued at $232,000 after buying an additional 5,760 shares during the period. Merit Financial Group LLC increased its position in shares of Suncor Energy by 14.1% during the first quarter. Merit Financial Group LLC now owns 9,429 shares of the oil and gas producer's stock valued at $365,000 after buying an additional 1,165 shares during the period. Park Avenue Securities LLC increased its position in shares of Suncor Energy by 59.3% during the first quarter. Park Avenue Securities LLC now owns 31,543 shares of the oil and gas producer's stock valued at $1,221,000 after buying an additional 11,745 shares during the period. Fortitude Family Office LLC purchased a new position in shares of Suncor Energy during the first quarter valued at about $102,000. Finally, Salem Investment Counselors Inc. increased its position in shares of Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 405 shares during the period. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $40.42 on Friday. The stock has a market cap of $48.87 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 3.31 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $43.48. The firm's 50-day simple moving average is $40.69 and its two-hundred day simple moving average is $38.25.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter in the prior year, the company earned $1.27 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were issued a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.1%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy's dividend payout ratio is currently 50.77%.

Wall Street Analysts Forecast Growth

SU has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Suncor Energy in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Suncor Energy Company 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.

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