Addenda Capital Inc. Sells 28,811 Shares of Suncor Energy Inc. (NYSE:SU)

Addenda Capital Inc. reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 854,658 shares of the oil and gas producer’s stock after selling 28,811 shares during the quarter. Suncor Energy makes up about 1.6% of Addenda Capital Inc.’s holdings, making the stock its 20th largest position. Addenda Capital Inc. owned about 0.07% of Suncor Energy worth $32,562,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SU. Benjamin F. Edwards & Company Inc. increased its stake in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 313 shares during the last quarter. Adirondack Trust Co. increased its position in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. Independence Bank of Kentucky increased its position in Suncor Energy by 6.7% during the 1st quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 315 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Suncor Energy by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock valued at $104,000 after purchasing an additional 377 shares during the last quarter. Finally, First Bank & Trust boosted its stake in shares of Suncor Energy by 4.7% in the 2nd quarter. First Bank & Trust now owns 8,654 shares of the oil and gas producer’s stock worth $330,000 after buying an additional 387 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Trading Up 0.5 %

SU stock traded up $0.19 on Wednesday, hitting $41.14. 2,905,658 shares of the company were exchanged, compared to its average volume of 4,469,918. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The business’s fifty day moving average is $38.16 and its two-hundred day moving average is $37.21. The stock has a market capitalization of $52.49 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 2.72 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The business had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. As a group, research analysts forecast that Suncor Energy Inc. will post 3.64 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 3.84%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 35.63%.

Wall Street Analyst Weigh In

A number of research firms have commented on SU. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Suncor Energy 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.