Vanguard Group Inc. Increases Position in Suncor Energy Inc. $SU

Vanguard Group Inc. raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 55,720,921 shares of the oil and gas producer’s stock after buying an additional 1,166,405 shares during the quarter. Vanguard Group Inc.’s holdings in Suncor Energy were worth $2,473,173,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SU. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the second quarter worth about $31,000. Smartleaf Asset Management LLC lifted its position in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 388 shares in the last quarter. Finally, Maseco LLP acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SU has been the topic of several research reports. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group increased their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $72.00.

Suncor Energy Stock Up 2.9%

Shares of NYSE:SU opened at $67.09 on Thursday. The firm’s 50 day moving average price is $61.79 and its 200 day moving average price is $51.31. The stock has a market cap of $79.45 billion, a price-to-earnings ratio of 19.33 and a beta of 0.32. Suncor Energy Inc. has a fifty-two week low of $33.50 and a fifty-two week high of $67.76. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same quarter last year, the company earned $1.25 earnings per share. As a group, equities research analysts predict that Suncor Energy Inc. will post 5.72 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy’s dividend payout ratio is 50.43%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.