Ashton Thomas Private Wealth LLC Acquires 3,738 Shares of Suncor Energy Inc. (NYSE:SU)

Ashton Thomas Private Wealth LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 52,076 shares of the oil and gas producer’s stock after acquiring an additional 3,738 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Suncor Energy were worth $1,984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after buying an additional 6,580,260 shares during the period. TD Asset Management Inc increased its stake in shares of Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after buying an additional 4,612,764 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after buying an additional 3,951,287 shares during the period. National Bank of Canada FI increased its stake in shares of Suncor Energy by 60.7% in the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after buying an additional 3,272,896 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after buying an additional 1,725,969 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Scotiabank reduced their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $54.86.

Suncor Energy Stock Up 0.2 %

NYSE:SU opened at $37.40 on Tuesday. The firm’s 50-day moving average price is $39.17 and its 200-day moving average price is $38.22. The company has a market capitalization of $47.52 billion, a PE ratio of 8.33, a P/E/G ratio of 2.51 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities analysts predict that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 35.19%.

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.