Foster & Motley Inc. Buys Shares of 32,910 Suncor Energy Inc. $SU

Foster & Motley Inc. bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, Holdings Channel reports. The institutional investor bought 32,910 shares of the oil and gas producer’s stock, valued at approximately $1,767,000.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the period. 1 North Wealth Services LLC purchased a new position in Suncor Energy during the fourth quarter worth about $32,000. Cassaday & Co Wealth Management LLC purchased a new position in Suncor Energy during the first quarter worth about $53,000. Headlands Technologies LLC acquired a new position in Suncor Energy in the 2nd quarter valued at about $31,000. Finally, Accent Capital Management LLC boosted its holdings in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $67.54 on Thursday. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The company has a 50 day moving average price of $60.75 and a 200 day moving average price of $61.45. The stock has a market capitalization of $79.75 billion, a P/E ratio of 12.44, a PEG ratio of 0.49 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The company had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SU. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday. Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

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.