Suncor Energy Inc. $SU Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1,673.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,288 shares of the oil and gas producer’s stock after purchasing an additional 131,433 shares during the quarter. Cidel Asset Management Inc.’s holdings in Suncor Energy were worth $9,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Steph & Co. lifted its stake in shares of Suncor Energy by 3.5% in the 1st quarter. Steph & Co. now owns 7,541 shares of the oil and gas producer’s stock worth $499,000 after acquiring an additional 255 shares during the period. Signal Advisors Wealth LLC purchased a new stake in shares of Suncor Energy in the first quarter valued at about $225,000. PKO Investment Management Joint Stock Co increased its stake in shares of Suncor Energy by 28.6% during the first quarter. PKO Investment Management Joint Stock Co now owns 41,800 shares of the oil and gas producer’s stock worth $2,759,000 after acquiring an additional 9,300 shares during the period. Evolve Private Wealth LLC increased its stake in shares of Suncor Energy by 35.1% during the first quarter. Evolve Private Wealth LLC now owns 29,809 shares of the oil and gas producer’s stock worth $1,971,000 after acquiring an additional 7,744 shares during the period. Finally, Baron Wealth Management LLC raised its holdings in Suncor Energy by 2.6% during the first quarter. Baron Wealth Management LLC now owns 11,636 shares of the oil and gas producer’s stock worth $769,000 after purchasing an additional 294 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SU. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Finally, The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Stock Up 0.5%

SU stock opened at $56.53 on Wednesday. The company has a market cap of $66.75 billion, a P/E ratio of 14.84 and a beta of 0.27. Suncor Energy Inc. has a 52 week low of $37.22 and a 52 week high of $70.29. The company’s 50-day moving average price is $63.75 and its 200 day moving average price is $57.05. 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 issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, research analysts expect that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.2%. Suncor Energy’s payout ratio is 45.67%.

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.