Atria Wealth Solutions Inc. Sells 6,472 Shares of Suncor Energy Inc. $SU

Atria Wealth Solutions Inc. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 49.8% in the second quarter, Holdings Channel reports. The fund owned 6,523 shares of the oil and gas producer’s stock after selling 6,472 shares during the period. Atria Wealth Solutions Inc.’s holdings in Suncor Energy were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in shares of Suncor Energy by 12,290.9% in the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after buying an additional 12,318,559 shares during the last quarter. Principal Financial Group Inc. increased its position in Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after acquiring an additional 6,311,513 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Suncor Energy by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock valued at $481,135,000 after acquiring an additional 5,658,880 shares in the last quarter. Nuveen LLC acquired a new stake in Suncor Energy in the 1st quarter valued at about $126,048,000. Finally, Mackenzie Financial Corp increased its position in Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock valued at $595,398,000 after acquiring an additional 2,410,857 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

NYSE SU opened at $39.11 on Thursday. The business has a 50 day simple moving average of $40.68 and a 200 day simple moving average of $38.31. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $43.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a market cap of $47.29 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 3.02 and a beta of 0.78.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the prior year, the firm posted $1.27 EPS. Analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.4135 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 4.2%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 51.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SU shares. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Wells Fargo & Company began coverage on Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating for the company. Finally, Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.