K.J. Harrison & Partners Inc Takes $3.96 Million Position in Suncor Energy Inc. $SU

K.J. Harrison & Partners Inc acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,769 shares of the oil and gas producer’s stock, valued at approximately $3,961,000.

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after buying an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after acquiring an additional 464 shares during the last quarter. AXA S.A. raised its stake in shares of Suncor Energy by 17.2% in the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after buying an additional 4,043 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

SU has been the topic of several research analyst reports. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $66.69 on Tuesday. The company has a market capitalization of $78.74 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29. The stock’s fifty day moving average is $60.51 and its two-hundred day moving average is $61.25. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The company had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter last year, the business posted $0.71 EPS. As a group, analysts expect that Suncor Energy Inc. will post 7.13 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

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.