Ninepoint Partners LP Raises Holdings in Suncor Energy Inc. (NYSE:SU)

Ninepoint Partners LP raised its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2,030.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,573,648 shares of the oil and gas producer's stock after purchasing an additional 1,499,779 shares during the quarter. Suncor Energy accounts for approximately 8.2% of Ninepoint Partners LP's portfolio, making the stock its 4th largest position. Ninepoint Partners LP owned about 0.13% of Suncor Energy worth $56,148,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC increased its position in shares of Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after acquiring an additional 325 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Suncor Energy during the 4th quarter worth approximately $39,000. Stonebridge Financial Group LLC purchased a new stake in shares of Suncor Energy in the fourth quarter worth approximately $45,000. UMB Bank n.a. grew its holdings in Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer's stock worth $50,000 after buying an additional 300 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Suncor Energy by 50.2% in the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer's stock valued at $61,000 after purchasing an additional 570 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on SU shares. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. StockNews.com cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating for the company. Morgan Stanley lowered shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Finally, Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Suncor Energy Trading Up 0.5 %

SU stock traded up $0.20 during midday trading on Thursday, hitting $37.71. The company had a trading volume of 6,812,899 shares, compared to its average volume of 4,208,152. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 52 week low of $33.81 and a 52 week high of $41.95. The stock's 50 day moving average price is $38.27 and its 200 day moving average price is $38.17. The stock has a market cap of $46.65 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy's payout ratio is presently 45.51%.

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.