Envestnet Portfolio Solutions Inc. Trims Stock Position in Suncor Energy Inc. (NYSE:SU)

Envestnet Portfolio Solutions Inc. trimmed its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 14.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,643 shares of the oil and gas producer's stock after selling 10,069 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Suncor Energy were worth $2,387,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SU. Hanson & Doremus Investment Management boosted its position in shares of Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after buying an additional 465 shares during the period. Salem Investment Counselors Inc. lifted 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 worth $32,000 after purchasing an additional 405 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the fourth quarter valued at approximately $36,000. Finally, Covestor Ltd grew its holdings in shares of Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Finally, Bank of America initiated coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a "neutral" rating for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $64.67.

Suncor Energy Stock Performance

Shares of NYSE:SU traded down $0.07 during trading on Thursday, reaching $37.90. The company had a trading volume of 5,811,254 shares, compared to its average volume of 4,463,742. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.39 and a quick ratio of 0.84. The stock's fifty day moving average price is $36.52 and its 200 day moving average price is $36.95. The firm has a market capitalization of $46.34 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 3.30 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. During the same period last year, the firm posted $1.41 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.36%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's payout ratio is 47.84%.

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.