Cardinal Point Capital Management ULC Purchases 8,998 Shares of Suncor Energy Inc. $SU

Cardinal Point Capital Management ULC lifted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.3% during the 4th quarter, Holdings Channel reports. The firm owned 395,317 shares of the oil and gas producer’s stock after acquiring an additional 8,998 shares during the period. Suncor Energy comprises about 1.1% of Cardinal Point Capital Management ULC’s holdings, making the stock its 22nd biggest holding. Cardinal Point Capital Management ULC’s holdings in Suncor Energy were worth $17,571,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after buying an additional 1,166,405 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock valued at $1,417,029,000 after buying an additional 145,800 shares during the period. Dodge & Cox increased its stake in shares of Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock valued at $1,148,602,000 after buying an additional 70,300 shares during the period. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after buying an additional 516,783 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after buying an additional 7,158,953 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $66.10 on Thursday. The stock has a market cap of $78.04 billion, a price-to-earnings ratio of 17.35 and a beta of 0.31. The business’s fifty day moving average is $63.35 and its 200 day moving average is $52.92. Suncor Energy Inc. has a twelve month low of $34.67 and a twelve month high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the previous year, the company earned $1.31 earnings per share. Research analysts expect that Suncor Energy Inc. will post 6.34 EPS for the current fiscal year.

Suncor Energy Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Wall Street Zen raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group upped their price target on Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $72.00.

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.