Capital Research Global Investors Raises Stock Position in Suncor Energy Inc. $SU

Capital Research Global Investors lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,973,331 shares of the oil and gas producer’s stock after buying an additional 13,028 shares during the quarter. Capital Research Global Investors owned about 0.42% of Suncor Energy worth $220,739,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its stake in Suncor Energy by 54.9% in the 4th 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. Smartleaf Asset Management LLC increased its stake in Suncor Energy by 95.8% in the 3rd 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. Headlands Technologies LLC acquired a new position in Suncor Energy in the 2nd quarter valued at $31,000. Accent Capital Management LLC increased its stake in Suncor Energy by 37.5% in the 4th 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 4th quarter valued at $39,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SU has been the topic of several research analyst reports. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Royal Bank Of Canada raised their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $71.67.

Suncor Energy Stock Up 0.1%

Shares of NYSE SU opened at $62.28 on Monday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 52 week low of $36.60 and a 52 week high of $70.29. The firm has a 50-day moving average price of $65.31 and a 200 day moving average price of $55.84. The stock has a market capitalization of $73.54 billion, a price-to-earnings ratio of 16.35 and a beta of 0.27.

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

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 45.41%.

About Suncor Energy

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.