Zions Bancorporation National Association UT Buys New Position in Suncor Energy Inc. (NYSE:SU)

Key Points

• Zions Bancorporation National Association UT has purchased a new stake in Suncor Energy Inc., acquiring 25,033 shares valued at approximately $969,000 in the 1st quarter.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135, reflecting an annualized dividend of $1.65 and a yield of 4.2%.
• Analysts have adjusted their ratings, with Wall Street Zen downgrading Suncor Energy from a "buy" to a "hold" rating, amidst a mixed analyst outlook with a consensus price target of $66.00.

Zions Bancorporation National Association UT bought a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,033 shares of the oil and gas producer's stock, valued at approximately $969,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SU. Alliancebernstein L.P. increased its stake in shares of Suncor Energy by 120.4% during the 4th quarter. Alliancebernstein L.P. now owns 228,696 shares of the oil and gas producer's stock valued at $8,160,000 after acquiring an additional 124,935 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Suncor Energy during the 4th quarter worth about $18,829,000. CenterBook Partners LP grew its holdings in shares of Suncor Energy by 19.8% during the 4th quarter. CenterBook Partners LP now owns 26,991 shares of the oil and gas producer's stock worth $963,000 after purchasing an additional 4,469 shares during the period. Covestor Ltd grew its holdings in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 256 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Suncor Energy by 4.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 48,502 shares of the oil and gas producer's stock worth $1,731,000 after purchasing an additional 2,053 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Ratings Changes

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

Suncor Energy Stock Up 0.4%

NYSE SU opened at $39.19 on Friday. The stock has a market cap of $47.73 billion, a PE ratio of 12.06, a P/E/G ratio of 3.45 and a beta of 0.84. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.94. The business has a 50 day moving average price of $38.83 and a two-hundred day moving average price of $37.36. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same period in the prior year, the company posted $1.27 EPS. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders 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 4.2%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is currently 50.46%.

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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