Avise Financial Cooperative Inc. Buys New Shares in Suncor Energy Inc. $SU

Avise Financial Cooperative Inc. bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 4th quarter, HoldingsChannel reports. The firm bought 8,522 shares of the oil and gas producer’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC lifted its holdings in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 225 shares during the period. Headlands Technologies LLC acquired a new position in Suncor Energy in the second quarter valued at $31,000. Smartleaf Asset Management LLC lifted its holdings in Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares during the period. Accent Capital Management LLC lifted its holdings in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 225 shares during the period. Finally, Maseco LLP acquired a new position in Suncor Energy in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $65.47 on Friday. The firm’s 50-day moving average price is $65.36 and its 200-day moving average price is $55.71. Suncor Energy Inc. has a 1-year low of $36.34 and a 1-year high of $70.29. The firm has a market capitalization of $77.31 billion, a P/E ratio of 17.18 and a beta of 0.27. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company earned $1.31 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SU. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Royal Bank Of Canada upped their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.00.

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.