Summit Financial LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,476 shares of the oil and gas producer's stock, valued at approximately $1,979,000.
Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer's stock worth $123,774,000 after buying an additional 3,225,543 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer's stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Suncor Energy by 2,061.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer's stock worth $86,990,000 after acquiring an additional 2,325,503 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer's stock valued at $133,250,000 after purchasing an additional 1,842,791 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Suncor Energy by 104.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock valued at $110,017,000 after purchasing an additional 1,573,726 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on SU. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. StockNews.com raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Finally, Morgan Stanley downgraded Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and a consensus price target of $59.20.
Read Our Latest Stock Analysis on SU
Suncor Energy Stock Performance
Shares of NYSE SU traded down $3.59 during mid-day trading on Friday, hitting $33.19. The company had a trading volume of 10,312,749 shares, compared to its average volume of 4,394,649. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 12 month low of $32.78 and a 12 month 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 firm's 50 day simple moving average is $37.94 and its two-hundred day simple moving average is $38.20.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its 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 return on equity of 15.37% and a net margin of 11.80%. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.
Suncor Energy Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy's payout ratio is 45.51%.
About Suncor Energy
(
Free Report)
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.
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