Envestnet Asset Management Inc. Sells 107,376 Shares of Suncor Energy Inc. $SU

Envestnet Asset Management Inc. trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 16.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 529,362 shares of the oil and gas producer’s stock after selling 107,376 shares during the period. Envestnet Asset Management Inc.’s holdings in Suncor Energy were worth $22,133,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Archford Capital Strategies LLC raised its stake in shares of Suncor Energy by 1.2% during the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock valued at $987,000 after acquiring an additional 272 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the period. IFP Advisors Inc raised its position in Suncor Energy by 27.6% during the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 309 shares in the last quarter. Transamerica Financial Advisors LLC raised its position in Suncor Energy by 18.4% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer’s stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its holdings in shares of Suncor Energy by 7.1% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 6,342 shares of the oil and gas producer’s stock worth $265,000 after buying an additional 421 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $55.96 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The company’s fifty day moving average price is $47.96 and its 200-day moving average price is $43.57. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $56.46. The firm has a market capitalization of $66.59 billion, a PE ratio of 16.13 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter in the previous year, the firm posted $1.25 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. Suncor Energy’s payout ratio is 49.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SU shares. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. The Goldman Sachs Group upped their price target on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $61.00.

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.