Leigh Baldwin & CO. LLC Acquires New Position in Suncor Energy Inc. $SU

Leigh Baldwin & CO. LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,957 shares of the oil and gas producer’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 398 shares during the period. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Suncor Energy in the first quarter valued at approximately $53,000. Headlands Technologies LLC acquired a new position in Suncor Energy during the second quarter worth $31,000. Finally, Accent Capital Management LLC grew its holdings in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

SU opened at $68.46 on Monday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The stock has a market cap of $80.83 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.49 and a beta of 0.29. The stock’s 50 day simple moving average is $61.02 and its 200 day simple moving average is $61.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, equities analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company 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 is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SU shares. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Friday, June 5th. Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a report on Wednesday. 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. Finally, Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One investment 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 stock. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $80.25.

About Suncor Energy

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.