Vanguard Group Inc. Has $1.62 Billion Position in Suncor Energy Inc. (NYSE:SU)

Vanguard Group Inc. grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,534,957 shares of the oil and gas producer’s stock after acquiring an additional 155,343 shares during the quarter. Vanguard Group Inc. owned 3.92% of Suncor Energy worth $1,619,140,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in Suncor Energy in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. acquired a new position in shares of Suncor Energy in the 4th quarter valued at approximately $25,000. Optiver Holding B.V. bought a new stake in Suncor Energy during the 3rd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. raised its holdings in Suncor Energy by 43.2% during the 4th 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 during the period. Finally, Headinvest LLC bought a new position in Suncor Energy in the third quarter valued at approximately $40,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SU shares. TD Securities raised their price objective 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. Morgan Stanley boosted their price target on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Finally, The Goldman Sachs Group raised their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.67.

Suncor Energy Stock Up 1.8 %

SU stock opened at $37.01 on Thursday. Suncor Energy Inc. has a twelve month low of $28.07 and a twelve month high of $41.50. The company has a market cap of $47.43 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 3.51 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $38.81 and a two-hundred day moving average price of $35.42.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Analysts anticipate that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a $0.395 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.27%. Suncor Energy’s payout ratio is 35.19%.

Suncor Energy Company 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.