Truist Financial Corp Buys 1,449 Shares of Suncor Energy Inc. (NYSE:SU)

Truist Financial Corp increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,403 shares of the oil and gas producer’s stock after purchasing an additional 1,449 shares during the period. Truist Financial Corp’s holdings in Suncor Energy were worth $1,656,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. grew its holdings in shares of Suncor Energy by 2.2% during the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after buying an additional 265 shares during the last quarter. UMB Bank n.a. raised its holdings in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 300 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Suncor Energy by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock valued at $4,169,000 after acquiring an additional 321 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Suncor Energy by 11.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer’s stock valued at $112,000 after purchasing an additional 333 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $38.23 on Friday. Suncor Energy Inc. has a 12-month low of $33.26 and a 12-month high of $41.94. The firm has a market capitalization of $47.58 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $38.20 and a 200 day moving average of $38.65.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.22%.

Wall Street Analyst Weigh In

SU has been the subject of several recent analyst reports. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

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.