Burling Wealth Partners LLC Raises Stock Position in Suncor Energy Inc. $SU

Burling Wealth Partners LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 22.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 74,712 shares of the oil and gas producer’s stock after buying an additional 13,878 shares during the period. Burling Wealth Partners LLC’s holdings in Suncor Energy were worth $4,939,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Suncor Energy by 54.9% in the 4th 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 last quarter. 1 North Wealth Services LLC bought a new stake in Suncor Energy during the fourth quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC bought a new stake in Suncor Energy during the first quarter worth approximately $53,000. Headlands Technologies LLC purchased a new stake in Suncor Energy during the second quarter valued at approximately $31,000. Finally, Accent Capital Management LLC raised its position in 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 purchasing an additional 225 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.2%

Shares of NYSE SU opened at $62.28 on Tuesday. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The company has a market cap of $73.54 billion, a price-to-earnings ratio of 16.35 and a beta of 0.30. The business’s 50 day moving average price is $61.06 and its 200-day moving average price is $58.91.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the firm earned $1.31 EPS. On average, sell-side analysts expect that Suncor Energy Inc. will post 6.9 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SU. Weiss Ratings cut Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy currently has an average rating of “Buy” and an average target price of $71.67.

Suncor Energy 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.