Cetera Investment Advisers Sells 17,392 Shares of Suncor Energy Inc. $SU

Cetera Investment Advisers cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 97,079 shares of the oil and gas producer’s stock after selling 17,392 shares during the period. Cetera Investment Advisers’ holdings in Suncor Energy were worth $6,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Wealth LLC increased its holdings in shares of Suncor Energy by 8.2% in the first quarter. NewEdge Wealth LLC now owns 1,082,177 shares of the oil and gas producer’s stock worth $71,543,000 after buying an additional 81,565 shares during the period. First Trust Advisors LP grew its position in Suncor Energy by 9.2% during the 1st quarter. First Trust Advisors LP now owns 260,952 shares of the oil and gas producer’s stock worth $17,250,000 after acquiring an additional 22,076 shares during the last quarter. Barometer Capital Management Inc. purchased a new position in Suncor Energy in the 1st quarter worth approximately $9,984,000. Burling Wealth Partners LLC lifted its position in Suncor Energy by 22.8% in the first quarter. Burling Wealth Partners LLC now owns 74,712 shares of the oil and gas producer’s stock valued at $4,939,000 after purchasing an additional 13,878 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Suncor Energy during the first quarter valued at approximately $53,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $67.22 on Friday. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The stock has a market capitalization of $79.37 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.50 and a beta of 0.30. The company’s 50-day moving average is $60.62 and its 200 day moving average is $60.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business earned $1.31 earnings per share. On average, sell-side analysts expect that Suncor Energy Inc. will post 7.11 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were issued a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy’s dividend payout ratio is 45.67%.

Analyst Ratings Changes

SU has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Friday, June 5th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Buy” and a consensus target price of $71.67.

Suncor Energy 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.