Foster & Motley Inc. Grows Stake in Suncor Energy Inc. (NYSE:SU)

Key Points

• Foster & Motley Inc. increased its holdings in Suncor Energy by 90.6% in Q1, owning a total of 40,108 shares valued at approximately $1.55 million.
• Suncor Energy was recently downgraded by analysts from a "buy" to a "hold" rating, with a consensus price target of $66.00.
• The company announced a quarterly dividend increase to $0.4133, representing a yield of 4.16% and a dividend payout ratio of 47.84%.

Foster & Motley Inc. lifted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 90.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,108 shares of the oil and gas producer's stock after acquiring an additional 19,064 shares during the period. Foster & Motley Inc.'s holdings in Suncor Energy were worth $1,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Arkadios Wealth Advisors boosted its stake in Suncor Energy by 34.9% during the first quarter. Arkadios Wealth Advisors now owns 25,747 shares of the oil and gas producer's stock valued at $997,000 after buying an additional 6,668 shares during the last quarter. Bayforest Capital Ltd boosted its stake in Suncor Energy by 154.6% during the first quarter. Bayforest Capital Ltd now owns 5,030 shares of the oil and gas producer's stock valued at $195,000 after buying an additional 3,054 shares during the last quarter. XTX Topco Ltd bought a new position in Suncor Energy during the first quarter valued at approximately $297,000. N.E.W. Advisory Services LLC bought a new position in Suncor Energy during the first quarter valued at approximately $36,000. Finally, Fiera Capital Corp boosted its stake in Suncor Energy by 29.1% during the first quarter. Fiera Capital Corp now owns 1,919,956 shares of the oil and gas producer's stock valued at $74,416,000 after buying an additional 432,632 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $66.00.

Suncor Energy Trading Down 1.0%

Shares of NYSE SU traded down $0.40 during midday trading on Friday, hitting $39.06. The company's stock had a trading volume of 3,938,035 shares, compared to its average volume of 3,238,744. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $38.49 and its two-hundred day moving average is $37.38. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.94. The firm has a market cap of $47.57 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 3.48 and a beta of 0.84.

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

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.2%. The ex-dividend date was Wednesday, June 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is 47.84%.

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.