Stonebridge Financial Group LLC Makes New $45,000 Investment in Suncor Energy Inc. (NYSE:SU)

Stonebridge Financial Group LLC bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,265 shares of the oil and gas producer’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SU. Assenagon Asset Management S.A. raised its position in Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after acquiring an additional 3,225,543 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the period. Principal Financial Group Inc. lifted its stake in Suncor Energy by 23.0% in the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Suncor Energy by 136.2% during the third quarter. Fisher Asset Management LLC now owns 1,891,781 shares of the oil and gas producer’s stock valued at $69,845,000 after purchasing an additional 1,090,988 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Suncor Energy in the third quarter worth $23,286,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 0.7 %

Shares of NYSE SU opened at $39.91 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average of $37.70 and a 200-day moving average of $38.58. The firm has a market capitalization of $49.67 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.96 and a beta of 1.12. Suncor Energy Inc. has a 12 month low of $31.31 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. Sell-side analysts expect that Suncor Energy Inc. will post 3.25 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.00%. Suncor Energy’s payout ratio is 46.67%.

Analyst Ratings Changes

Several research firms have recently weighed in on SU. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.