Suncor Energy Inc. (NYSE:SU) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 49.0% during the fourth quarter, Holdings Channel reports. The fund owned 69,074 shares of the oil and gas producer’s stock after selling 66,327 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Suncor Energy were worth $2,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. boosted its position in shares of Suncor Energy by 51.8% during the third quarter. Citigroup Inc. now owns 229,983 shares of the oil and gas producer’s stock worth $8,498,000 after buying an additional 78,482 shares during the period. Cerity Partners LLC boosted its position in Suncor Energy by 77.9% during the 3rd quarter. Cerity Partners LLC now owns 45,537 shares of the oil and gas producer’s stock worth $1,681,000 after acquiring an additional 19,939 shares during the period. Dynamic Technology Lab Private Ltd grew its stake in shares of Suncor Energy by 3.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 36,284 shares of the oil and gas producer’s stock worth $1,340,000 after purchasing an additional 1,166 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in shares of Suncor Energy by 2,311.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,895 shares during the period. Finally, Bridgewater Associates LP raised its stake in shares of Suncor Energy by 113.4% during the third quarter. Bridgewater Associates LP now owns 983,633 shares of the oil and gas producer’s stock valued at $36,347,000 after purchasing an additional 522,635 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $38.88 on Thursday. The stock’s fifty day simple moving average is $38.15 and its 200 day simple moving average is $38.15. The stock has a market capitalization of $48.09 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 2.94 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were paid a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is 45.51%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SU. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Company 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.