AT Bancorp decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 57.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,859 shares of the oil and gas producer’s stock after selling 15,952 shares during the period. AT Bancorp’s holdings in Suncor Energy were worth $347,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. CENTRAL TRUST Co boosted its stake in shares of Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 1,733 shares during the last quarter. Howe & Rusling Inc. boosted its stake in shares of Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 670 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 42 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 238 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in Suncor Energy during the fourth quarter worth about $152,000. 65.59% of the stock is owned by institutional investors.
Suncor Energy Inc. (SU) opened at 31.42 on Friday. The firm has a market capitalization of $52.14 billion, a P/E ratio of 24.39 and a beta of 0.82. The company has a 50-day moving average price of $30.98 and a 200-day moving average price of $30.93. Suncor Energy Inc. has a one year low of $25.70 and a one year high of $33.79.
Suncor Energy announced that its board has authorized a stock repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th will be paid a $0.2552 dividend. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, August 31st. Suncor Energy ‘s dividend payout ratio is currently 77.87%.
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SU has been the topic of a number of research analyst reports. BidaskClub raised shares of Suncor Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Barclays PLC reaffirmed an “overweight” rating and set a $52.00 target price (up previously from $47.00) on shares of Suncor Energy in a research note on Wednesday, July 12th. National Bank Financial assumed coverage on shares of Suncor Energy in a research note on Tuesday, June 27th. They set an “outperform” rating on the stock. Zacks Investment Research raised shares of Suncor Energy from a “sell” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, July 4th. Finally, AltaCorp Capital cut shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.10.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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