Heron Bay Capital Management Makes New $477,000 Investment in Suncor Energy Inc. $SU

Heron Bay Capital Management bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, HoldingsChannel.com reports. The firm bought 8,882 shares of the oil and gas producer’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc lifted its position in shares of Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares during the last quarter. Headlands Technologies LLC bought a new position in Suncor Energy in the second quarter valued at about $31,000. 1 North Wealth Services LLC bought a new position in Suncor Energy in the fourth quarter valued at about $32,000. Accent Capital Management LLC raised its stake 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 worth $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Suncor Energy during the fourth quarter worth about $44,000. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

SU has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday. Finally, The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Stock Performance

Shares of SU stock opened at $68.46 on Friday. The business’s 50-day moving average price is $61.02 and its 200-day moving average price is $61.61. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The firm has a market capitalization of $80.83 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.49 and a beta of 0.30. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share 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 period in the previous year, the business posted $0.71 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is 32.04%.

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.