Spire Wealth Management Increases Holdings in Suncor Energy Inc. (NYSE:SU)

Spire Wealth Management increased its position in Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) by 305.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,805 shares of the oil and gas producer’s stock after acquiring an additional 5,126 shares during the period. Spire Wealth Management’s holdings in Suncor Energy were worth $234,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ninepoint Partners LP bought a new stake in Suncor Energy during the third quarter valued at about $77,355,000. Miller Howard Investments Inc. NY grew its holdings in Suncor Energy by 227.9% during the third quarter. Miller Howard Investments Inc. NY now owns 260,684 shares of the oil and gas producer’s stock valued at $8,962,000 after purchasing an additional 181,194 shares during the period. Van ECK Associates Corp grew its holdings in Suncor Energy by 783.4% during the second quarter. Van ECK Associates Corp now owns 170,804 shares of the oil and gas producer’s stock valued at $5,012,000 after purchasing an additional 151,469 shares during the period. Sourcerock Group LLC grew its holdings in Suncor Energy by 76.6% during the second quarter. Sourcerock Group LLC now owns 693,381 shares of the oil and gas producer’s stock valued at $20,330,000 after purchasing an additional 300,677 shares during the period. Finally, Fox Run Management L.L.C. grew its holdings in Suncor Energy by 230.4% during the third quarter. Fox Run Management L.L.C. now owns 26,832 shares of the oil and gas producer’s stock valued at $922,000 after purchasing an additional 18,712 shares during the period. Institutional investors own 60.25% of the company’s stock.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $32.14 on Friday. The stock’s 50-day simple moving average is $32.04 and its 200-day simple moving average is $32.71. Suncor Energy Inc. has a 52 week low of $27.59 and a 52 week high of $35.51. The company has a market capitalization of $41.47 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 3.00 and a beta of 1.13. The company has a quick ratio of 0.82, a current ratio of 1.24 and a debt-to-equity ratio of 0.23.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last announced its quarterly earnings data on Wednesday, November 8th. The oil and gas producer reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. Suncor Energy had a return on equity of 18.26% and a net margin of 16.27%. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $8.19 billion. As a group, analysts expect that Suncor Energy Inc. will post 3.72 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 1st were given a $0.393 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.89%. Suncor Energy’s dividend payout ratio is currently 35.00%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada boosted their price target on Suncor Energy from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Check Out Our Latest Analysis on SU

Suncor Energy Company Profile

(Free Report)

Suncor Energy Inc operates as an integrated energy company in Canada 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. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.

See Also

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

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