Fiera Capital Corp Trims Holdings in Suncor Energy Inc. $SU

Fiera Capital Corp cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,592,115 shares of the oil and gas producer’s stock after selling 327,841 shares during the quarter. Fiera Capital Corp’s holdings in Suncor Energy were worth $59,602,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Maseco LLP purchased a new position in shares of Suncor Energy during the second quarter worth $32,000. N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy during the first quarter worth $36,000. Atlantic Union Bankshares Corp acquired a new stake in Suncor Energy during the second quarter valued at $37,000. Harbour Investments Inc. grew its position in Suncor Energy by 67.0% during the first quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 469 shares during the period. Finally, IFP Advisors Inc increased its holdings in Suncor Energy by 27.6% in the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 309 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 0.3%

Shares of SU opened at $44.20 on Thursday. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $44.51. The stock has a market cap of $53.32 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 3.52 and a beta of 0.75. The firm’s fifty day moving average is $40.98 and its two-hundred day moving average is $39.12. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the business earned $1.48 earnings per share. Research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be paid a $0.60 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 5.4%. Suncor Energy’s dividend payout ratio is 55.74%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings upgraded Suncor Energy from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, November 7th. Wells Fargo & Company started coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

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.