Suncor Energy Inc. (NYSE:SU) Shares Purchased by Gradient Investments LLC

Gradient Investments LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) by 18.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,327 shares of the oil and gas producer’s stock after purchasing an additional 5,211 shares during the quarter. Gradient Investments LLC’s holdings in Suncor Energy were worth $1,169,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SU. Investors Research Corp lifted its holdings in Suncor Energy by 1.6% in the first quarter. Investors Research Corp now owns 18,577 shares of the oil and gas producer’s stock valued at $605,000 after acquiring an additional 300 shares during the period. Tyler Stone Wealth Management lifted its holdings in Suncor Energy by 1.5% in the first quarter. Tyler Stone Wealth Management now owns 20,387 shares of the oil and gas producer’s stock valued at $664,000 after acquiring an additional 301 shares during the period. Quadrant Capital Group LLC lifted its holdings in Suncor Energy by 7.2% in the first quarter. Quadrant Capital Group LLC now owns 4,794 shares of the oil and gas producer’s stock valued at $157,000 after acquiring an additional 323 shares during the period. Eagle Global Advisors LLC lifted its holdings in Suncor Energy by 0.3% in the first quarter. Eagle Global Advisors LLC now owns 119,893 shares of the oil and gas producer’s stock valued at $3,902,000 after acquiring an additional 404 shares during the period. Finally, Carolinas Wealth Consulting LLC lifted its holdings in Suncor Energy by 60.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,165 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 440 shares during the period. 58.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on SU. Scotiabank raised their target price on Suncor Energy from C$46.00 to C$57.00 in a report on Wednesday, June 8th. Raymond James cut Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. National Bank Financial dropped their price target on Suncor Energy from C$73.00 to C$64.00 in a research report on Monday, July 18th. Credit Suisse Group restated an “outperform” rating and issued a $63.00 price target on shares of Suncor Energy in a research report on Thursday, August 11th. Finally, BMO Capital Markets raised their price target on Suncor Energy from C$54.00 to C$60.00 in a research report on Thursday, June 9th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.38.

Suncor Energy Stock Up 1.5 %

Shares of NYSE:SU opened at $31.21 on Tuesday. The stock’s 50-day moving average price is $31.95 and its two-hundred day moving average price is $34.06. The company has a current ratio of 1.14, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. Suncor Energy Inc. has a 12-month low of $18.44 and a 12-month high of $42.72. The firm has a market cap of $42.65 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.47 and a beta of 1.25.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 2nd will be paid a $0.3656 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 4.69%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, September 1st. Suncor Energy’s dividend payout ratio (DPR) is presently 27.66%.

About Suncor Energy

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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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