Harvest Portfolios Group Inc. Boosts Position in Suncor Energy Inc. $SU

Harvest Portfolios Group Inc. raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,668 shares of the oil and gas producer’s stock after buying an additional 30,210 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Suncor Energy were worth $16,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SU. AQR Capital Management LLC grew its holdings in Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Suncor Energy by 172.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Suncor Energy by 21.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 464 shares in the last quarter. AXA S.A. grew its holdings in shares of Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. The Goldman Sachs Group boosted their price objective on Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $72.00.

Suncor Energy Stock Down 0.1%

Shares of NYSE SU opened at $69.66 on Wednesday. The business has a 50-day moving average of $64.26 and a 200-day moving average of $53.73. The firm has a market capitalization of $82.26 billion, a price-to-earnings ratio of 18.28 and a beta of 0.31. Suncor Energy Inc. has a 12 month low of $34.67 and a 12 month high of $70.29. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

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 for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the previous year, the firm earned $1.31 EPS. Sell-side analysts expect that Suncor Energy Inc. will post 6.79 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. 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.