Northwestern Mutual Wealth Management Co. Takes $1.87 Million Position in Suncor Energy Inc. $SU

Northwestern Mutual Wealth Management Co. acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, HoldingsChannel reports. The firm acquired 34,885 shares of the oil and gas producer’s stock, valued at approximately $1,873,000.

A number of other institutional investors have also recently added to or reduced their stakes in SU. Formidable Asset Management LLC increased its position in Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after acquiring an additional 171 shares during the period. Mitchell & Pahl Private Wealth LLC grew its stake in shares of Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after purchasing an additional 190 shares during the last quarter. IFP Advisors Inc increased its holdings in Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 193 shares during the period. DGS Capital Management LLC raised its position in Suncor Energy by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 193 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC raised its position in Suncor Energy by 3.5% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 196 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Stock Down 1.6%

Shares of NYSE:SU opened at $67.35 on Tuesday. The company has a market capitalization of $79.53 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.49 and a beta of 0.29. 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’s 50-day moving average is $61.17 and its 200-day moving average is $61.77. 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 results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the previous year, the company earned $0.71 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

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

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.