Beverly Hills Private Wealth LLC Takes $371,000 Position in Suncor Energy Inc. (NYSE:SU)

Beverly Hills Private Wealth LLC purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,586 shares of the oil and gas producer’s stock, valued at approximately $371,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Suncor Energy by 1.5% in the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares during the last quarter. Ninepoint Partners LP acquired a new stake in Suncor Energy during the 3rd quarter valued at $77,355,000. JPMorgan Chase & Co. increased its position in Suncor Energy by 13.3% during the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after buying an additional 628,262 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Suncor Energy by 1,689.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Suncor Energy by 0.3% during the third quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock valued at $593,188,000 after buying an additional 49,765 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $37.18 on Tuesday. The business’s fifty day moving average price is $35.28 and its 200 day moving average price is $33.56. Suncor Energy Inc. has a twelve month low of $27.59 and a twelve month high of $39.32. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $47.86 billion, a P/E ratio of 7.91, a PEG ratio of 3.46 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same period in the previous year, the company posted $1.33 EPS. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.63 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a dividend of $0.406 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, March 1st. Suncor Energy’s payout ratio is currently 34.26%.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. Morgan Stanley raised their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Suncor Energy Profile

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.