Raymond James Financial Inc. Takes Position in Suncor Energy Inc. (NYSE:SU)

Raymond James Financial Inc. bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 527,717 shares of the oil and gas producer’s stock, valued at approximately $18,829,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SU. Sanctuary Advisors LLC increased its position in shares of Suncor Energy by 32.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Jones Financial Companies Lllp increased its position in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after acquiring an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at $300,000. Intech Investment Management LLC lifted its holdings in shares of Suncor Energy by 1,345.8% in the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after acquiring an additional 436,016 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Suncor Energy during the 4th quarter worth about $236,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 2.7 %

Shares of Suncor Energy stock opened at $37.68 on Tuesday. 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 company has a fifty day simple moving average of $38.30 and a 200-day simple moving average of $38.20. The stock has a market cap of $46.61 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 12-month low of $33.81 and a 12-month high of $41.95.

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

Suncor Energy Cuts Dividend

The business also recently announced 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 is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.24%. Suncor Energy’s payout ratio is currently 45.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Bank of America began coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Company 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.