Miller Howard Investments Inc. NY Decreases Stake in Suncor Energy Inc. $SU

Miller Howard Investments Inc. NY decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,034 shares of the oil and gas producer’s stock after selling 10,753 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Suncor Energy were worth $4,015,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Suncor Energy in the 2nd quarter valued at about $31,000. Maseco LLP purchased a new stake in Suncor Energy during the second quarter worth about $32,000. Hanson & Doremus Investment Management grew its position in Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Suncor Energy in the second quarter valued at about $37,000. Finally, Corsicana & Co. acquired a new stake in shares of Suncor Energy during the 3rd quarter valued at approximately $42,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. The Goldman Sachs Group lifted their price target on Suncor Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, January 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of $56.50.

Suncor Energy Stock Performance

NYSE:SU opened at $46.74 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85. The firm has a market cap of $56.01 billion, a PE ratio of 15.32 and a beta of 0.46. The firm has a 50 day simple moving average of $43.86 and a 200-day simple moving average of $41.32. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $46.77.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same period in the previous year, the company earned $1.48 EPS. On average, equities analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were paid a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a yield of 5.1%. Suncor Energy’s payout ratio is currently 56.39%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.