Suncor Energy Inc. (NYSE:SU) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC boosted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,664 shares of the oil and gas producer's stock after purchasing an additional 52,802 shares during the quarter. NewEdge Wealth LLC's holdings in Suncor Energy were worth $18,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Suncor Energy by 163.1% during the second quarter. Goldman Sachs Group Inc. now owns 16,402,041 shares of the oil and gas producer's stock worth $480,908,000 after acquiring an additional 10,168,941 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Suncor Energy by 79.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer's stock worth $548,183,000 after acquiring an additional 7,438,559 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Suncor Energy during the first quarter worth about $199,877,000. Invesco Ltd. boosted its position in shares of Suncor Energy by 35.0% in the third quarter. Invesco Ltd. now owns 16,466,624 shares of the oil and gas producer's stock worth $566,123,000 after buying an additional 4,271,009 shares during the period. Finally, Alberta Investment Management Corp boosted its position in shares of Suncor Energy by 113.8% in the third quarter. Alberta Investment Management Corp now owns 7,630,881 shares of the oil and gas producer's stock worth $263,614,000 after buying an additional 4,062,019 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upped their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.00.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded down $0.66 on Friday, reaching $37.70. 5,330,323 shares of the company were exchanged, compared to its average volume of 4,338,165. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The company's 50-day moving average is $35.06 and its two-hundred day moving average is $33.53. The firm has a market cap of $48.52 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 3.66 and a beta of 1.13. Suncor Energy Inc. has a 1-year low of $27.59 and a 1-year high of $39.32.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The firm had revenue of $10.39 billion for the quarter, compared to analysts' expectations of $8.46 billion. During the same period last year, the firm earned $1.33 EPS. As a group, research analysts expect that Suncor Energy Inc. will post 3.58 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were given a $0.406 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Friday, March 1st. This is a boost from Suncor Energy's previous quarterly dividend of $0.39. Suncor Energy's dividend payout ratio (DPR) is 34.26%.

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.

Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.