Sage Investment Counsel LLC Invests $300,000 in Suncor Energy Inc. (NYSE:SU)

Sage Investment Counsel LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,400 shares of the oil and gas producer’s stock, valued at approximately $300,000.

Several other institutional investors have also modified their holdings of SU. Private Advisor Group LLC raised its holdings in shares of Suncor Energy by 5.0% during the 3rd quarter. Private Advisor Group LLC now owns 33,566 shares of the oil and gas producer’s stock worth $1,239,000 after acquiring an additional 1,604 shares during the period. International Assets Investment Management LLC purchased a new stake in Suncor Energy in the 3rd quarter valued at about $2,701,000. Wealth Enhancement Advisory Services LLC raised its holdings in Suncor Energy by 63.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 112,604 shares of the oil and gas producer’s stock valued at $4,157,000 after buying an additional 43,869 shares during the period. First Trust Direct Indexing L.P. raised its holdings in Suncor Energy by 32.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 11,609 shares of the oil and gas producer’s stock valued at $429,000 after buying an additional 2,819 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Suncor Energy by 6.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 47,519 shares of the oil and gas producer’s stock valued at $1,754,000 after buying an additional 3,026 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $38.28 on Friday. Suncor Energy Inc. has a twelve month low of $33.79 and a twelve month high of $41.94. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $38.28 and a two-hundred day moving average of $38.64. The stock has a market cap of $47.64 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.94 and a beta of 1.12.

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

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.22%.

Analyst Ratings Changes

Several research firms have weighed in on SU. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Bank of America started coverage on Suncor Energy in a report on Wednesday. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.