Ieq Capital LLC Takes Position in Suncor Energy Inc. $SU

Ieq Capital LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,776 shares of the oil and gas producer’s stock, valued at approximately $954,000.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,254 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Suncor Energy by 21.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 464 shares during the last quarter. AXA S.A. raised its stake in shares of Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after buying an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after buying an additional 4,043 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 1.2%

Shares of Suncor Energy stock opened at $66.43 on Friday. The company has a market capitalization of $78.44 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.47 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The business has a 50-day moving average of $61.73 and a two-hundred day moving average of $62.03. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating 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 business had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy’s payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of recent research reports. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Finally, Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.25.

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.