Suncor Energy Inc. (NYSE:SU) Shares Sold by Brookstone Capital Management

Brookstone Capital Management lowered its holdings in Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) by 48.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,159 shares of the oil and gas producer’s stock after selling 21,118 shares during the quarter. Brookstone Capital Management’s holdings in Suncor Energy were worth $725,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Gradient Investments LLC raised its stake in shares of Suncor Energy by 18.5% during the 2nd quarter. Gradient Investments LLC now owns 33,327 shares of the oil and gas producer’s stock worth $1,169,000 after buying an additional 5,211 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of Suncor Energy by 7.6% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 6,940 shares of the oil and gas producer’s stock worth $243,000 after buying an additional 490 shares during the last quarter. Nkcfo LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth $288,000. NuWave Investment Management LLC raised its stake in shares of Suncor Energy by 255.3% during the 2nd quarter. NuWave Investment Management LLC now owns 7,201 shares of the oil and gas producer’s stock worth $253,000 after buying an additional 5,174 shares during the last quarter. Finally, Parsec Financial Management Inc. acquired a new position in shares of Suncor Energy during the 2nd quarter worth $202,000. Institutional investors and hedge funds own 58.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Scotiabank lifted their price target on Suncor Energy from C$46.00 to C$57.00 in a research note on Wednesday, June 8th. Credit Suisse Group reiterated an “outperform” rating and set a $63.00 price objective on shares of Suncor Energy in a research report on Thursday, August 11th. Raymond James cut Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. BMO Capital Markets lifted their price objective on Suncor Energy from C$54.00 to C$60.00 in a research report on Thursday, June 9th. Finally, National Bank Financial dropped their price objective on Suncor Energy from C$73.00 to C$64.00 in a research report on Monday, July 18th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.38.

Suncor Energy Stock Performance

NYSE SU opened at $30.18 on Friday. The business’s 50-day simple moving average is $31.95 and its 200-day simple moving average is $34.00. The firm has a market capitalization of $41.24 billion, a P/E ratio of 5.84, a P/E/G ratio of 0.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.14 and a quick ratio of 0.74. Suncor Energy Inc. has a 1-year low of $19.85 and a 1-year high of $42.72.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Friday, September 2nd will be given a dividend of $0.3656 per share. The ex-dividend date is Thursday, September 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 4.85%. Suncor Energy’s payout ratio is 27.66%.

Suncor Energy Profile

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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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