South Dakota Investment Council Makes New $2 Million Investment in Suncor Energy Inc. (NYSE:SU)

South Dakota Investment Council purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,996 shares of the oil and gas producer’s stock, valued at approximately $1,998,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Eastern Bank acquired a new position in shares of Suncor Energy during the 3rd quarter worth $25,000. HHM Wealth Advisors LLC grew its position in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in Suncor Energy during the fourth quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new position in Suncor Energy during the fourth quarter worth about $45,000. Finally, UMB Bank n.a. lifted its holdings in shares of Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 300 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SU has been the topic of several recent research reports. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Down 1.8 %

Shares of Suncor Energy stock opened at $39.46 on Monday. The stock has a fifty day simple moving average of $37.95 and a 200 day simple moving average of $38.67. The company has a market capitalization of $49.11 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 12-month low of $33.26 and a 12-month high of $41.94.

Suncor Energy (NYSE:SU) (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%. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.04%. Suncor Energy’s payout ratio is 45.22%.

Suncor Energy Profile

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.