Empowered Funds LLC Takes Position in Suncor Energy Inc. $SU

Empowered Funds LLC bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,241 shares of the oil and gas producer’s stock, valued at approximately $1,999,000.

A number of other hedge funds also recently made changes to their positions in the company. United Capital Financial Advisors LLC bought a new position in Suncor Energy during the second quarter valued at approximately $409,000. Lifetime Wealth Management P.C. bought a new stake in Suncor Energy in the 2nd quarter worth approximately $414,000. Ruggaard & Associates LLC bought a new stake in Suncor Energy in the 2nd quarter worth approximately $710,000. Jefferies Financial Group Inc. purchased a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $2,002,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $30,765,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.1%

Shares of SU stock opened at $68.32 on Friday. The company has a market cap of $80.67 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The stock’s 50 day simple moving average is $62.95 and its two-hundred day simple moving average is $62.47. 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 announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.71 EPS. Research analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. The Goldman Sachs Group downgraded 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. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. 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 given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently 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.