Merit Financial Group LLC Buys 1,165 Shares of Suncor Energy Inc. (NYSE:SU)

Merit Financial Group LLC lifted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,429 shares of the oil and gas producer’s stock after purchasing an additional 1,165 shares during the period. Merit Financial Group LLC’s holdings in Suncor Energy were worth $365,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its holdings in Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after acquiring an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $300,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $236,000. Bank of New York Mellon Corp raised its position in Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after buying an additional 1,573,726 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Suncor Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock valued at $159,030,000 after buying an additional 99,669 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

SU has been the topic of several recent analyst reports. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Scotiabank upgraded Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.67.

Suncor Energy Price Performance

Shares of NYSE SU opened at $38.82 on Thursday. The stock has a market capitalization of $47.67 billion, a PE ratio of 11.25, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The business has a fifty day moving average price of $35.20 and a two-hundred day moving average price of $36.92. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The company had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, equities analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.26%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 47.55%.

About Suncor Energy

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.