WealthPlan Investment Management LLC Decreases Stock Position in Suncor Energy Inc. $SU

by · The Cerbat Gem

WealthPlan Investment Management LLC reduced its position in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,384 shares of the oil and gas producer’s stock after selling 1,335 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Suncor Energy were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after purchasing an additional 12,318,559 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock worth $620,136,000 after buying an additional 6,311,513 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Suncor Energy by 83.6% in the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock worth $481,135,000 after buying an additional 5,658,880 shares during the period. Nuveen LLC purchased a new position in shares of Suncor Energy in the first quarter worth about $126,048,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after buying an additional 2,410,857 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on SU shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Get Our Latest Research Report on SU

Suncor Energy Stock Down 1.4%

SU stock opened at $38.57 on Friday. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $43.48. The business’s 50 day moving average price is $40.71 and its two-hundred day moving average price is $38.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The company has a market capitalization of $46.63 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.78.

Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion for 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 quarter in the prior year, the business posted $1.27 EPS. As a group, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were issued a $0.4135 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 51.08%.

Suncor Energy Company Profile

(Free Report)

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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