Pekin Hardy Strauss Inc. Has $6.30 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Pekin Hardy Strauss Inc. cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,629 shares of the oil and gas producer’s stock after selling 3,831 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $6,302,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Suncor Energy in the third quarter worth $25,000. HHM Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Suncor Energy in the fourth quarter worth $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Suncor Energy in the fourth quarter worth $45,000. Finally, UMB Bank n.a. lifted its stake in shares of Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 300 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Down 1.8 %

SU opened at $39.46 on Friday. The firm’s 50-day simple moving average is $37.95 and its 200-day simple moving average is $38.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy Inc. has a twelve month low of $33.26 and a twelve month high of $41.94. The firm has a market cap of $49.11 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.94 and a beta of 1.12.

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

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.04%. Suncor Energy’s dividend payout ratio (DPR) is 46.67%.

Suncor Energy Profile

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.