Hillsdale Investment Management Inc. Increases Stock Position in Suncor Energy Inc. $SU

Hillsdale Investment Management Inc. increased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 31.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 260,422 shares of the oil and gas producer’s stock after buying an additional 62,302 shares during the period. Hillsdale Investment Management Inc.’s holdings in Suncor Energy were worth $10,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after acquiring an additional 3,115 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,254 shares during the period. 180 Wealth Advisors LLC lifted its holdings in Suncor Energy by 4.1% during the 2nd quarter. 180 Wealth Advisors LLC now owns 16,394 shares of the oil and gas producer’s stock worth $614,000 after purchasing an additional 641 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Suncor Energy in the 2nd quarter worth about $257,000. Finally, Envestnet Asset Management Inc. grew its holdings in Suncor Energy by 4.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 636,738 shares of the oil and gas producer’s stock valued at $23,846,000 after buying an additional 27,711 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SU shares. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. The Goldman Sachs Group boosted their price target on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.00.

Suncor Energy Trading Down 1.9%

NYSE SU opened at $55.73 on Friday. The stock has a market cap of $66.31 billion, a P/E ratio of 16.06 and a beta of 0.46. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $57.13. The stock has a 50 day simple moving average of $49.14 and a two-hundred day simple moving average of $44.14. 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 announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 50.14%.

Suncor Energy Company Profile

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.