Burling Wealth Partners LLC Grows Position in Suncor Energy Inc. $SU

Burling Wealth Partners LLC raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 23.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,834 shares of the oil and gas producer’s stock after acquiring an additional 11,507 shares during the period. Burling Wealth Partners LLC’s holdings in Suncor Energy were worth $2,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SU. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Suncor Energy during the 2nd quarter valued at about $31,000. Smartleaf Asset Management LLC raised its holdings in shares of Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares in the last quarter. Maseco LLP purchased a new position in shares of Suncor Energy during the 4th quarter valued at about $39,000. Finally, Financial Consulate Inc. purchased a new position in shares of Suncor Energy during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Finally, Royal Bank Of Canada raised their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $72.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $67.89 on Thursday. The company’s fifty day simple moving average is $64.47 and its two-hundred day simple moving average is $53.93. Suncor Energy Inc. has a 12-month low of $34.67 and a 12-month high of $70.29. The firm has a market cap of $80.16 billion, a PE ratio of 17.82 and a beta of 0.31. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period last year, the company posted $1.31 earnings per share. As a group, equities analysts expect that Suncor Energy Inc. will post 6.79 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is 46.19%.

About Suncor Energy

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.