Freedom Investment Management Inc. Grows Stake in Suncor Energy Inc. (NYSE:SU)

Freedom Investment Management Inc. lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 15,344 shares of the oil and gas producer’s stock after buying an additional 302 shares during the period. Freedom Investment Management Inc.’s holdings in Suncor Energy were worth $547,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its position in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of Suncor Energy in the fourth quarter worth about $35,000. Lee Danner & Bass Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $36,000. Golden State Wealth Management LLC acquired a new position in Suncor Energy in the 4th quarter worth approximately $39,000. Finally, Covestor Ltd raised its position in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 256 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Trading Up 2.0 %

Shares of Suncor Energy stock opened at $34.48 on Monday. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The firm’s 50-day moving average price is $36.67 and its 200 day moving average price is $37.84. 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 firm has a market capitalization of $42.66 billion, a PE ratio of 10.00, a P/E/G ratio of 2.94 and a beta of 0.79.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were given a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.63%. Suncor Energy’s payout ratio is presently 45.51%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SU. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-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. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Scotiabank raised shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

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.