Inspire Advisors LLC Cuts Stock Position in Suncor Energy Inc. (NYSE:SU)

Inspire Advisors LLC decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,414 shares of the oil and gas producer’s stock after selling 794 shares during the quarter. Inspire Advisors LLC’s holdings in Suncor Energy were worth $558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SU. American Century Companies Inc. grew its stake in shares of Suncor Energy by 7.6% during the 4th quarter. American Century Companies Inc. now owns 778,161 shares of the oil and gas producer’s stock worth $27,777,000 after acquiring an additional 55,062 shares during the period. Prudential Financial Inc. grew its stake in shares of Suncor Energy by 68.8% during the 4th quarter. Prudential Financial Inc. now owns 111,222 shares of the oil and gas producer’s stock worth $3,968,000 after acquiring an additional 45,340 shares during the period. SCP Investment LP grew its stake in shares of Suncor Energy by 31.9% during the 4th quarter. SCP Investment LP now owns 24,800 shares of the oil and gas producer’s stock worth $885,000 after acquiring an additional 6,000 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Suncor Energy by 250.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 19,811 shares of the oil and gas producer’s stock worth $759,000 after acquiring an additional 14,163 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of Suncor Energy by 120.4% during the 4th quarter. Alliancebernstein L.P. now owns 228,696 shares of the oil and gas producer’s stock worth $8,160,000 after acquiring an additional 124,935 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Suncor Energy Stock Performance

Shares of SU opened at $39.31 on Monday. The stock’s 50-day simple moving average is $38.06 and its 200 day simple moving average is $37.35. The stock has a market capitalization of $48.07 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 3.46 and a beta of 0.80. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. During the same quarter in the prior year, the firm posted $1.41 EPS. Research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were issued a $0.4133 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.20%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is presently 47.55%.

Suncor Energy Company 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.