J.W. Cole Advisors Inc. Purchases New Position in Suncor Energy Inc. (NYSE:SU)

J.W. Cole Advisors Inc. purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,624 shares of the oil and gas producer’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Assenagon Asset Management S.A. boosted its holdings 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 valued at $123,774,000 after purchasing an additional 3,225,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of 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 acquiring an additional 1,296,142 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Suncor Energy by 136.2% in 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 acquiring an additional 1,090,988 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Suncor Energy in the third quarter valued at approximately $23,286,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SU has been the subject of several research analyst reports. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

Suncor Energy stock opened at $39.46 on Friday. The business has a 50 day simple moving average of $37.95 and a 200-day simple moving average of $38.66. The stock has a market capitalization of $49.11 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 2.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 12 month low of $33.26 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data 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 return on equity of 15.37% and a net margin of 11.80%. Equities analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 46.67%.

About Suncor Energy

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.