Mirabella Financial Services LLP Purchases 37,650 Shares of Suncor Energy Inc. $SU

Mirabella Financial Services LLP lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 369.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,848 shares of the oil and gas producer’s stock after purchasing an additional 37,650 shares during the quarter. Mirabella Financial Services LLP’s holdings in Suncor Energy were worth $1,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. lifted its position in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at $31,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares in the last quarter. Finally, Corsicana & Co. bought a new position in shares of Suncor Energy in the 3rd quarter worth about $42,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SU has been the topic of several research reports. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Suncor Energy Stock Performance

Shares of SU stock opened at $61.97 on Thursday. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $63.96. The company’s 50-day moving average is $54.25 and its 200 day moving average is $46.50. The company has a market capitalization of $73.74 billion, a price-to-earnings ratio of 17.86 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the company earned $1.25 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is 50.72%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.