JARISLOWSKY FRASER Ltd Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

JARISLOWSKY FRASER Ltd increased its stake in Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) by 11.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,218 shares of the oil and gas producer’s stock after acquiring an additional 19,268 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Suncor Energy were worth $5,930,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in Suncor Energy in the 4th quarter worth $25,000. Optiver Holding B.V. purchased a new stake in shares of Suncor Energy during the third quarter worth $29,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Suncor Energy during the third quarter worth $40,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Suncor Energy during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.1 %

Shares of SU traded up $0.45 during mid-day trading on Tuesday, reaching $40.75. The stock had a trading volume of 1,345,939 shares, compared to its average volume of 4,314,791. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. Suncor Energy Inc. has a 52-week low of $27.78 and a 52-week high of $41.50. The business’s fifty day moving average is $38.54 and its 200 day moving average is $34.82. The firm has a market cap of $52.40 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 3.71 and a beta of 1.11.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. On average, sell-side analysts predict that Suncor Energy Inc. will post 3.62 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be given a $0.395 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 3.88%. Suncor Energy’s payout ratio is currently 35.86%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SU. Morgan Stanley upped their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. The Goldman Sachs Group upped their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. TD Securities upped their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

View Our Latest Stock Analysis on SU

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.

Further Reading

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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