Morningstar Investment Management LLC Makes New $529,000 Investment in Suncor Energy Inc. $SU

Morningstar Investment Management LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,911 shares of the oil and gas producer’s stock, valued at approximately $529,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SU. Atlantic Edge Private Wealth Management LLC raised its position in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC acquired a new position in Suncor Energy during the second quarter worth about $31,000. Smartleaf Asset Management LLC raised its position in Suncor Energy by 95.8% during the third 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 during the last quarter. Accent Capital Management LLC raised its position in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Maseco LLP purchased a new stake in shares of Suncor Energy during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SU shares. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $72.00.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $67.34 on Tuesday. The company has a market cap of $79.52 billion, a PE ratio of 17.68 and a beta of 0.31. Suncor Energy Inc. has a 12 month low of $34.99 and a 12 month high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company has a 50-day simple moving average of $65.01 and a 200-day simple moving average of $54.52.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, equities analysts anticipate that Suncor Energy Inc. will post 6.79 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s payout ratio is presently 46.19%.

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.