Atria Wealth Solutions Inc. Lowers Position in Suncor Energy Inc. (NYSE:SU)

Atria Wealth Solutions Inc. cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 34.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,995 shares of the oil and gas producer’s stock after selling 6,736 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Suncor Energy were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 256 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Suncor Energy by 0.3% during the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock valued at $3,408,000 after buying an additional 265 shares during the last quarter. Freedom Investment Management Inc. lifted its position in shares of Suncor Energy by 2.0% during the fourth quarter. Freedom Investment Management Inc. now owns 15,344 shares of the oil and gas producer’s stock valued at $547,000 after buying an additional 302 shares during the last quarter. Sagespring Wealth Partners LLC lifted its position in shares of Suncor Energy by 5.8% during the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock valued at $235,000 after buying an additional 332 shares during the last quarter. Finally, Winthrop Capital Management LLC lifted its position in shares of Suncor Energy by 2.6% during the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer’s stock valued at $529,000 after buying an additional 352 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

SU opened at $38.93 on Thursday. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.94. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The company has a market cap of $47.41 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. The firm’s 50-day moving average price is $38.97 and its 200-day moving average price is $37.37.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.4135 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 4.2%. Suncor Energy’s dividend payout ratio is currently 51.08%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

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.