Raymond James Financial Inc. Takes Position in Suncor Energy Inc. (NYSE:SU)

Raymond James Financial Inc. acquired a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 527,717 shares of the oil and gas producer's stock, valued at approximately $18,829,000.

Several other large investors have also modified their holdings of the company. Sanctuary Advisors LLC lifted its holdings in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer's stock valued at $3,035,000 after acquiring an additional 20,081 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock valued at $2,421,000 after purchasing an additional 31,366 shares during the period. Sage Investment Counsel LLC purchased a new stake in Suncor Energy during the fourth quarter worth about $300,000. Intech Investment Management LLC increased its holdings in Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer's stock valued at $17,309,000 after buying an additional 436,016 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Suncor Energy during the 4th quarter valued at approximately $236,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SU has been the subject of several research analyst reports. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Bank of America started coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, StockNews.com downgraded Suncor Energy from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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Suncor Energy Stock Down 0.7 %

SU traded down $0.26 on Friday, reaching $37.46. The company's stock had a trading volume of 3,314,648 shares, compared to its average volume of 4,210,735. Suncor Energy Inc. has a 1 year low of $33.81 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The stock has a market cap of $46.34 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The business's 50 day moving average is $38.26 and its 200 day moving average is $38.17.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts' consensus estimates 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, research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. Suncor Energy's dividend payout ratio is currently 45.51%.

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.