Pinnacle Wealth Planning Services Inc. Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

Pinnacle Wealth Planning Services Inc. grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,695 shares of the oil and gas producer’s stock after acquiring an additional 395 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Suncor Energy were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Johnson Financial Group Inc. acquired a new position in Suncor Energy during the 4th quarter worth $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy during the 4th quarter worth $25,000. Adirondack Trust Co. grew its holdings in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 313 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 313 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Suncor Energy during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SU. Morgan Stanley raised their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James raised shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Scotiabank decreased their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, TD Securities lifted their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Suncor Energy Stock Performance

Suncor Energy stock traded down $0.30 during midday trading on Friday, reaching $38.52. 2,462,625 shares of the stock traded hands, compared to its average volume of 3,698,518. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $38.58 and a two-hundred day moving average price of $36.44. The firm has a market cap of $49.36 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 3.65 and a beta of 1.12. Suncor Energy Inc. has a fifty-two week low of $28.78 and a fifty-two week high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.10%. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.