Wealthfront Advisers LLC Makes New Investment in Suncor Energy Inc. (NYSE:SU)

Wealthfront Advisers LLC acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,214 shares of the oil and gas producer’s stock, valued at approximately $436,000.

Several other institutional investors have also recently made changes to their positions in SU. Assenagon Asset Management S.A. lifted its holdings in shares of Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after acquiring an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Suncor Energy by 97.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after acquiring an additional 1,842,791 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after acquiring an additional 1,573,726 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 2.3 %

NYSE SU opened at $36.63 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market capitalization of $45.32 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The company’s 50-day simple moving average is $38.29 and its two-hundred day simple moving average is $38.22. Suncor Energy Inc. has a one year low of $33.81 and a one year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Bank of America began coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

About Suncor Energy

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.