Wealthspire Advisors LLC Invests $379,000 in Suncor Energy Inc. (NYSE:SU)

Key Points

• Wealthspire Advisors LLC acquired nearly 10,000 shares of Suncor Energy, valued at approximately $379,000, during the 1st quarter.
• Suncor Energy recently announced a quarterly dividend of $0.4135, reflecting a yield of 4.2% and an increase from its previous dividend.
• Despite recent growth in earnings, Wall Street analysts have downgraded Suncor Energy from a "buy" to a "hold" rating, with an average target price of $66.00.

Wealthspire Advisors LLC bought a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,795 shares of the oil and gas producer's stock, valued at approximately $379,000.

Several other institutional investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management lifted its holdings in Suncor Energy by 143.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in Suncor Energy during the 1st quarter valued at about $36,000. Covestor Ltd lifted its holdings in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new stake in Suncor Energy during the 1st quarter valued at about $42,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Down 0.5%

Shares of NYSE:SU traded down $0.21 during trading hours on Wednesday, hitting $38.64. The company's stock had a trading volume of 677,181 shares, compared to its average volume of 4,716,090. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.94. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The company has a market capitalization of $47.05 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 3.34 and a beta of 0.84. The firm's fifty day moving average price is $38.91 and its 200 day moving average price is $37.36.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. During the same quarter in the previous year, the business posted $1.27 EPS. As a group, 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 will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is presently 50.46%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.

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.