First Foundation Advisors Has $17.58 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

First Foundation Advisors lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.2% in the first quarter, HoldingsChannel reports. The firm owned 454,062 shares of the oil and gas producer’s stock after selling 51,665 shares during the period. First Foundation Advisors’ holdings in Suncor Energy were worth $17,581,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd grew its stake in Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 256 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Suncor Energy by 0.3% in the 4th quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock worth $3,408,000 after acquiring an additional 265 shares in the last quarter. Freedom Investment Management Inc. grew its position in Suncor Energy by 2.0% during the 4th quarter. Freedom Investment Management Inc. now owns 15,344 shares of the oil and gas producer’s stock worth $547,000 after acquiring an additional 302 shares during the last quarter. Sagespring Wealth Partners LLC grew its position in Suncor Energy by 5.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock worth $235,000 after acquiring an additional 332 shares during the last quarter. Finally, Winthrop Capital Management LLC increased its holdings in Suncor Energy by 2.6% during the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer’s stock valued at $529,000 after purchasing an additional 352 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $39.95 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $38.15 and a 200 day simple moving average of $37.35. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.94. The firm has a market cap of $48.84 billion, a P/E ratio of 11.51, a P/E/G ratio of 3.46 and a beta of 0.80.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $9.10 billion during 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 period last year, the firm earned $1.41 EPS. Sell-side analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a yield of 4.14%. The ex-dividend date was Wednesday, June 4th. Suncor Energy’s payout ratio is currently 47.84%.

Analyst Upgrades and Downgrades

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

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.