Van ECK Associates Corp Raises Holdings in Suncor Energy Inc. (NYSE:SU)

Van ECK Associates Corp grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,406 shares of the oil and gas producer’s stock after purchasing an additional 35,980 shares during the period. Van ECK Associates Corp’s holdings in Suncor Energy were worth $7,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SU. Intact Investment Management Inc. lifted its stake in Suncor Energy by 12.1% during the 4th quarter. Intact Investment Management Inc. now owns 2,649,414 shares of the oil and gas producer’s stock valued at $84,881,000 after acquiring an additional 285,050 shares during the period. Russell Investments Group Ltd. lifted its position in Suncor Energy by 4.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,110,530 shares of the oil and gas producer’s stock valued at $100,123,000 after purchasing an additional 143,255 shares during the period. Bryn Mawr Capital Management LLC purchased a new stake in Suncor Energy in the fourth quarter worth approximately $205,000. Syon Capital LLC raised its stake in Suncor Energy by 92.3% during the 4th quarter. Syon Capital LLC now owns 21,724 shares of the oil and gas producer’s stock valued at $696,000 after buying an additional 10,427 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Suncor Energy by 10.7% during the 4th quarter. Signaturefd LLC now owns 22,502 shares of the oil and gas producer’s stock valued at $721,000 after buying an additional 2,177 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley lifted 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 upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Suncor Energy Trading Up 0.5 %

NYSE:SU opened at $38.24 on Friday. The firm has a market capitalization of $49.22 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The business has a fifty day moving average price of $36.86 and a 200-day moving average price of $34.03. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.73.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same quarter in the prior year, the business posted $1.33 earnings per share. Sell-side analysts forecast that Suncor Energy Inc. will post 3.77 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently announced 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 a boost from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a yield of 4.25%. Suncor Energy’s dividend payout ratio (DPR) is presently 34.26%.

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.