Fisher Asset Management LLC Boosts Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Fisher Asset Management LLC increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 38.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,479 shares of the oil and gas producer’s stock after purchasing an additional 2,076 shares during the period. Fisher Asset Management LLC’s holdings in Suncor Energy were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SU. Johnson Financial Group Inc. purchased a new position in Suncor Energy in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new position in Suncor Energy in the fourth quarter valued at about $25,000. Benjamin F. Edwards & Company Inc. increased its holdings in Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Suncor Energy in the fourth quarter valued at about $38,000. Finally, Headinvest LLC acquired a new stake in shares of Suncor Energy in the third quarter valued at approximately $40,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SU shares. Morgan Stanley increased their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. TD Securities increased their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group increased their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Stock Down 0.4 %

Shares of NYSE SU opened at $37.73 on Wednesday. Suncor Energy Inc. has a 1 year low of $28.26 and a 1 year high of $41.50. The firm’s 50 day moving average price is $38.79 and its 200 day moving average price is $35.62. The firm has a market cap of $48.35 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were issued a $0.395 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.19%. Suncor Energy’s dividend payout ratio (DPR) is presently 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.