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

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Covestor Ltd raised its stake in shares of Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Suncor Energy by 0.3% in 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 buying an additional 265 shares in the last quarter. Freedom Investment Management Inc. increased its stake in shares of Suncor Energy by 2.0% in 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. Sagespring Wealth Partners LLC increased its stake in shares of Suncor Energy by 5.8% in the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after buying an additional 332 shares in the last quarter. Finally, Winthrop Capital Management LLC boosted its holdings in Suncor Energy by 2.6% in the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after acquiring an additional 352 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU traded down $0.06 on Thursday, reaching $38.88. 1,056,709 shares of the company's stock traded hands, compared to its average volume of 4,701,122. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a market cap of $47.35 billion, a PE ratio of 11.95, a PEG ratio of 3.35 and a beta of 0.84. The stock's 50 day simple moving average is $38.97 and its two-hundred day simple moving average is $37.37. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same period last year, the business posted $1.27 earnings per share. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.4135 per share. 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. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.3%. Suncor Energy's dividend payout ratio (DPR) is 51.08%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut 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 assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.00.

About Suncor Energy

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.