Suncor Energy (NYSE:SU) Stock Price Up 3.5% - Here's What Happened

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU shares shot up 3.5% during trading on Friday . The stock traded as high as $40.64 and last traded at $40.45. 2,618,551 shares were traded during trading, a decline of 42% from the average session volume of 4,480,213 shares. The stock had previously closed at $39.09.

Analyst Ratings Changes

Several brokerages have recently commented on SU. Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Bank of America began coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating for the company. Finally, Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.67.

Suncor Energy Price Performance

The stock has a 50 day simple moving average of $35.50 and a two-hundred day simple moving average of $36.92. The firm has a market cap of $50.25 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

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, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same quarter last year, the business posted $1.41 EPS. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. The ex-dividend date is Wednesday, June 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.04%. Suncor Energy's dividend payout ratio (DPR) is 47.55%.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock valued at $480,760,000 after acquiring an additional 12,318,559 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock valued at $77,000 after acquiring an additional 1,254 shares during the period. Focus Partners Wealth grew its position in shares of Suncor Energy by 1.3% during the 1st quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer's stock valued at $30,859,000 after acquiring an additional 10,514 shares during the period. Bayforest Capital Ltd grew its position in shares of Suncor Energy by 154.6% during the 1st quarter. Bayforest Capital Ltd now owns 5,030 shares of the oil and gas producer's stock valued at $195,000 after acquiring an additional 3,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Suncor Energy by 36.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer's stock valued at $36,572,000 after acquiring an additional 251,298 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.