NewEdge Advisors LLC Decreases Holdings in Suncor Energy Inc. $SU

NewEdge Advisors LLC lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 19.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,891 shares of the oil and gas producer's stock after selling 23,040 shares during the quarter. NewEdge Advisors LLC's holdings in Suncor Energy were worth $5,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc raised its position 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 during the period. Continuum Advisory LLC purchased a new position in Suncor Energy during the second quarter valued at approximately $27,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy in the 4th quarter valued at $32,000. Cassaday & Co Wealth Management LLC acquired a new stake in Suncor Energy in the 1st quarter valued at about $53,000. Finally, Accent Capital Management LLC grew its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 225 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Trading Down 0.2%

Shares of Suncor Energy stock opened at $68.72 on Tuesday. The stock has a market capitalization of $80.38 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.50 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. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.84. The stock has a 50 day moving average price of $64.91 and a two-hundred day moving average price of $63.08.

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 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 firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same period last year, the firm earned $0.71 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given 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 yield of 3.5%. Suncor Energy's dividend payout ratio (DPR) is 31.86%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SU shares. Morgan Stanley set a $106.00 price target on Suncor Energy in a report on Wednesday, August 19th. Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. The Goldman Sachs Group lowered shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. Wall Street Zen downgraded shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, Zacks Research downgraded shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.25.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.

Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.

Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada's largest integrated energy companies.

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