Beverly Hills Private Wealth LLC Acquires Shares of 57,772 Suncor Energy Inc. $SU

Beverly Hills Private Wealth LLC bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, HoldingsChannel.com reports. The fund bought 57,772 shares of the oil and gas producer’s stock, valued at approximately $3,101,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its stake in Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 398 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC acquired a new position in Suncor Energy during the second quarter worth $31,000. 1 North Wealth Services LLC acquired a new position in Suncor Energy during the fourth quarter worth $32,000. Finally, Accent Capital Management LLC lifted its holdings in shares of Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.0%

Shares of SU opened at $65.85 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The company has a market cap of $77.75 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.49 and a beta of 0.29. The stock has a fifty day moving average price of $60.44 and a two-hundred day moving average price of $61.15. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The company had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Analysts predict that Suncor Energy Inc. will post 7.13 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.6%. Suncor Energy’s dividend payout ratio is 32.04%.

Analyst Ratings Changes

Several brokerages have recently commented on SU. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $71.67.

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.