Lifetime Wealth Management P.C. Takes $414,000 Position in Suncor Energy Inc. $SU

Lifetime Wealth Management P.C. bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 7,715 shares of the oil and gas producer’s stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SU. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company bought a new position in shares of Suncor Energy during the 2nd quarter worth approximately $790,952,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after buying an additional 14,304,131 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Suncor Energy in the 2nd quarter valued at $466,810,000. Finally, Bank of America Corp DE acquired a new stake in Suncor Energy in the 2nd quarter valued at $351,892,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SU shares. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Price Performance

Shares of SU opened at $66.43 on Friday. The company’s 50-day moving average is $61.73 and its 200-day moving average is $62.03. 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 firm has a market capitalization of $78.44 billion, a PE ratio of 12.23, a PEG ratio of 0.47 and a beta of 0.30. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29.

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

Suncor Energy Dividend Announcement

The business 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 annualized dividend and a dividend yield of 3.6%. Suncor Energy’s dividend 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.