Mercer Global Advisors Inc. ADV Makes New $297,000 Investment in Suncor Energy Inc. (NYSE:SU)

Mercer Global Advisors Inc. ADV bought a new position in shares of Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,375 shares of the oil and gas producer’s stock, valued at approximately $297,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Suncor Energy by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,045 shares of the oil and gas producer’s stock valued at $393,000 after acquiring an additional 1,382 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Suncor Energy by 8.9% during the first quarter. HighTower Advisors LLC now owns 31,145 shares of the oil and gas producer’s stock valued at $1,013,000 after acquiring an additional 2,544 shares during the period. BlackRock Inc. raised its holdings in shares of Suncor Energy by 41.9% during the first quarter. BlackRock Inc. now owns 927,375 shares of the oil and gas producer’s stock valued at $30,223,000 after buying an additional 273,853 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Suncor Energy by 40.4% during the first quarter. Raymond James Trust N.A. now owns 12,556 shares of the oil and gas producer’s stock valued at $409,000 after buying an additional 3,610 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Suncor Energy by 20.5% during the first quarter. Sei Investments Co. now owns 11,827 shares of the oil and gas producer’s stock valued at $380,000 after buying an additional 2,015 shares during the last quarter. 58.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SU. TD Securities lifted their price target on Suncor Energy from C$52.00 to C$53.00 in a report on Wednesday, February 15th. Scotiabank lowered Suncor Energy from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, March 21st. StockNews.com assumed coverage on Suncor Energy in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, National Bank Financial upgraded shares of Suncor Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, April 28th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.57.

Suncor Energy Price Performance

NYSE:SU opened at $28.91 on Thursday. The business’s 50-day moving average price is $30.25 and its 200 day moving average price is $32.06. The firm has a market cap of $37.93 billion, a P/E ratio of 6.40, a PEG ratio of 0.66 and a beta of 1.28. Suncor Energy Inc. has a 52-week low of $26.42 and a 52-week high of $42.72. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of 0.25.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Monday, June 5th will be issued a dividend of $0.384 per share. This represents a $1.54 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Friday, June 2nd. Suncor Energy’s payout ratio is currently 33.63%.

Suncor Energy Company Profile

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Suncor Energy, Inc is an integrated energy company, which engages in the development of petroleum resource basins. It operates through the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment operates assets in the Athabasca oil sands of northeast Alberta.

Further Reading

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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