CWA Asset Management Group LLC Raises Stock Position in Suncor Energy Inc. $SU

CWA Asset Management Group LLC raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 64.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 117,779 shares of the oil and gas producer’s stock after acquiring an additional 46,342 shares during the period. CWA Asset Management Group LLC’s holdings in Suncor Energy were worth $4,924,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SU. Shell Asset Management Co. increased its holdings in Suncor Energy by 65.8% in the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock valued at $3,854,000 after purchasing an additional 40,892 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Suncor Energy by 1.3% in the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock valued at $30,859,000 after buying an additional 10,514 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Suncor Energy by 15.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer’s stock valued at $11,818,000 after buying an additional 42,506 shares in the last quarter. Canoe Financial LP purchased a new stake in shares of Suncor Energy in the 2nd quarter valued at $9,653,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Suncor Energy by 36.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock worth $36,572,000 after acquiring an additional 251,298 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 2.7%

Shares of NYSE:SU opened at $45.55 on Monday. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $45.76. The firm’s 50 day moving average price is $43.29 and its 200 day moving average price is $41.11. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. The stock has a market cap of $54.59 billion, a price-to-earnings ratio of 14.94 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the firm posted $1.48 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were paid a $0.60 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Wednesday, December 3rd. Suncor Energy’s payout ratio is 56.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SU shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. The Goldman Sachs Group raised their price target on shares of Suncor Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $56.50.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.