Focus Partners Wealth Sells 39,771 Shares of Suncor Energy Inc. (NYSE:SU)

Focus Partners Wealth trimmed its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 786,453 shares of the oil and gas producer's stock after selling 39,771 shares during the quarter. Focus Partners Wealth owned 0.06% of Suncor Energy worth $28,063,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. HHM Wealth Advisors LLC raised its holdings in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after buying an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in Suncor Energy in the 4th quarter worth $35,000. Lee Danner & Bass Inc. bought a new position in Suncor Energy in the 4th quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy in the 4th quarter worth about $39,000. Finally, Covestor Ltd increased its stake in shares of Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after acquiring an additional 256 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Bank of America began coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Finally, Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Down 0.4%

NYSE:SU traded down $0.14 during mid-day trading on Wednesday, reaching $36.27. The company's stock had a trading volume of 2,597,631 shares, compared to its average volume of 4,550,795. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.95. The stock has a fifty day moving average of $35.66 and a 200-day moving average of $37.37. The firm has a market capitalization of $44.72 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a $0.4133 dividend. The ex-dividend date is Wednesday, June 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a yield of 4.56%. Suncor Energy's payout ratio is currently 45.53%.

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.