Truist Financial Corp Has $1.93 Million Stock Position in Suncor Energy Inc. $SU

Truist Financial Corp grew its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,441 shares of the oil and gas producer’s stock after buying an additional 886 shares during the quarter. Truist Financial Corp’s holdings in Suncor Energy were worth $1,926,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hanson & Doremus Investment Management grew its stake in shares of Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 405 shares during the last quarter. Maseco LLP bought a new position in shares of Suncor Energy during the 2nd quarter worth about $32,000. N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy during the 1st quarter worth about $36,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Suncor Energy in the 1st quarter worth about $42,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 2.1%

Shares of SU opened at $39.53 on Friday. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $43.48. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $40.70 and its 200-day moving average price is $38.26. The firm has a market capitalization of $47.79 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 3.27 and a beta of 0.78.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping 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 business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a dividend of $0.4135 per share. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a yield of 4.2%. Suncor Energy’s payout ratio is presently 51.08%.

Analyst Upgrades and Downgrades

SU has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy 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.