AlphaCore Capital LLC Purchases New Holdings in Suncor Energy Inc. $SU

AlphaCore Capital LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the third quarter, HoldingsChannel.com reports. The fund purchased 10,775 shares of the oil and gas producer’s stock, valued at approximately $731,000.

A number of other hedge funds also recently made changes to their positions in the stock. Candriam S.C.A. increased its holdings in shares of Suncor Energy by 18.9% during the 3rd quarter. Candriam S.C.A. now owns 17,948 shares of the oil and gas producer’s stock worth $1,224,000 after buying an additional 2,849 shares during the last quarter. Ethic Inc. acquired a new position in Suncor Energy in the third quarter valued at $334,000. Parallel Advisors LLC boosted its holdings in Suncor Energy by 15.9% in the third quarter. Parallel Advisors LLC now owns 11,214 shares of the oil and gas producer’s stock valued at $761,000 after acquiring an additional 1,538 shares during the last quarter. Plancorp LLC acquired a new position in Suncor Energy in the third quarter valued at $174,000. Finally, Syverson Strege & Co grew its position in Suncor Energy by 2.6% during the third quarter. Syverson Strege & Co now owns 5,342 shares of the oil and gas producer’s stock valued at $363,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

SU stock opened at $69.88 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.27 and a current ratio of 1.71. Suncor Energy Inc. has a 1 year low of $42.09 and a 1 year high of $80.25. The firm has a market cap of $80.96 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.22 and a beta of 0.22. The stock has a 50-day simple moving average of $71.71 and a 200-day simple moving average of $64.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 EPS for the quarter, topping the consensus estimate of $2.35 by $0.49. The firm had revenue of $13.26 billion for the quarter, compared to analyst estimates of $11.85 billion. Suncor Energy had a return on equity of 25.55% and a net margin of 17.49%. During the same period in the previous year, the company posted $1.48 EPS. On average, equities analysts predict that Suncor Energy Inc. will post 9.30 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 3rd will be paid a dividend of C$0.66 per share. This is an increase from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, December 3rd. Suncor Energy’s payout ratio is 27.65%.

Wall Street Analysts Forecast Growth

SU has been the subject of several research analyst reports. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Buy” and an average price target of $81.71.

Suncor Energy Profile

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.