Suncor Energy Inc. $SU Stock Holdings Lowered by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has significantly reduced its stake in Suncor Energy by 49.8%, now holding 6,523 shares valued at $244,000.
• Suncor Energy reported a quarterly EPS of $0.51, exceeding analyst expectations, despite a revenue of $8.81 billion against a consensus estimate of $11.56 billion.
• The company has declared an increased quarterly dividend of $0.4135, reflecting a positive return strategy with a current dividend yield of 4.2%.

Atria Wealth Solutions Inc. lowered its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 49.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,523 shares of the oil and gas producer's stock after selling 6,472 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Suncor Energy were worth $244,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SU. Acadian Asset Management LLC lifted its holdings in Suncor Energy by 12,290.9% in the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock worth $480,760,000 after purchasing an additional 12,318,559 shares during the period. Principal Financial Group Inc. lifted its holdings in Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after acquiring an additional 6,311,513 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Suncor Energy by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock valued at $481,135,000 after acquiring an additional 5,658,880 shares during the last quarter. Nuveen LLC acquired a new stake in Suncor Energy in the 1st quarter valued at about $126,048,000. Finally, Mackenzie Financial Corp lifted its holdings in Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock valued at $595,398,000 after acquiring an additional 2,410,857 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Up 2.5%

NYSE:SU opened at $39.11 on Thursday. The stock's 50 day moving average price is $40.68 and its 200 day moving average price is $38.31. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $43.48. The company has a market capitalization of $47.29 billion, a P/E ratio of 12.04, a P/E/G ratio of 3.02 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 (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. On average, research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were paid a $0.4135 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. Suncor Energy's dividend payout ratio is 51.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SU shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Wells Fargo & Company started coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an "equal weight" rating for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Zacks Research downgraded shares of Suncor Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus target price 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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