Suncor Energy Inc. (NYSE:SU) Position Cut by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SU. Covestor Ltd grew its holdings in shares of Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after acquiring an additional 256 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Suncor Energy by 0.3% during the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer's stock valued at $3,408,000 after acquiring an additional 265 shares during the period. X Square Capital LLC boosted its stake in Suncor Energy by 0.3% in the 4th quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer's stock worth $2,951,000 after purchasing an additional 267 shares during the period. Freedom Investment Management Inc. grew its holdings in shares of Suncor Energy by 2.0% during the fourth quarter. Freedom Investment Management Inc. now owns 15,344 shares of the oil and gas producer's stock valued at $547,000 after buying an additional 302 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its stake in Suncor Energy by 5.8% in the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock worth $235,000 after acquiring an additional 332 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 0.3%

Suncor Energy stock opened at $40.17 on Monday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.95. The firm's fifty day simple moving average is $36.23 and its 200-day simple moving average is $36.93. The company has a market capitalization of $49.11 billion, a P/E ratio of 11.58, a P/E/G ratio of 3.49 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. During the same period last year, the company earned $1.41 earnings per share. Sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.12%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio is presently 47.84%.

Analysts Set New Price Targets

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

Suncor Energy 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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