Raymond James Financial Services Advisors Inc. Sells 2,797 Shares of Suncor Energy Inc. (NYSE:SU)

Raymond James Financial Services Advisors Inc. lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,070 shares of the oil and gas producer’s stock after selling 2,797 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Suncor Energy were worth $771,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SU. Arlington Trust Co LLC purchased a new position in Suncor Energy during the third quarter valued at $29,000. Optiver Holding B.V. purchased a new position in shares of Suncor Energy in the 3rd quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in shares of Suncor Energy in the 1st quarter worth about $31,000. Headinvest LLC purchased a new position in shares of Suncor Energy in the 3rd quarter worth about $40,000. Finally, Private Trust Co. NA raised its position in shares of Suncor Energy by 38.4% in the 3rd quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

SU has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.00.

Suncor Energy Price Performance

NYSE SU opened at $37.59 on Wednesday. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.32. The stock has a 50-day moving average of $35.39 and a 200 day moving average of $33.58. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 3.46 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same period last year, the company earned $1.33 EPS. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.63 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a dividend of $0.406 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy’s payout ratio is currently 34.26%.

About Suncor Energy

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.