Heritage Wealth Management LLC Acquires Shares of 23,610 Suncor Energy Inc. (NYSE:SU)

Heritage Wealth Management LLC bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,610 shares of the oil and gas producer’s stock, valued at approximately $756,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SU. Vanguard Group Inc. boosted its holdings in Suncor Energy by 1.5% in the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after acquiring an additional 731,163 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Suncor Energy by 7.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 20,658,847 shares of the oil and gas producer’s stock valued at $709,835,000 after purchasing an additional 1,356,470 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Suncor Energy by 1.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 20,348,705 shares of the oil and gas producer’s stock worth $699,750,000 after buying an additional 377,500 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Suncor Energy by 4.1% during the third quarter. The Manufacturers Life Insurance Company now owns 19,194,858 shares of the oil and gas producer’s stock worth $663,794,000 after buying an additional 762,271 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Suncor Energy by 9.2% in the third quarter. Mackenzie Financial Corp now owns 18,430,549 shares of the oil and gas producer’s stock valued at $618,071,000 after buying an additional 1,558,350 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.3 %

NYSE:SU traded up $0.48 during trading hours on Thursday, hitting $38.13. The stock had a trading volume of 541,527 shares, compared to its average volume of 4,212,001. The business’s 50 day moving average is $36.77 and its 200-day moving average is $34.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The company has a market cap of $49.08 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 3.37 and a beta of 1.11. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.73.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the prior year, the company earned $1.33 EPS. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.77 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were given a dividend of $0.406 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio (DPR) is currently 34.26%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Company Profile

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.