Fisher Asset Management LLC Has $746.18 Million Stake in Suncor Energy Inc. $SU

Fisher Asset Management LLC raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,820,924 shares of the oil and gas producer’s stock after purchasing an additional 1,289,959 shares during the quarter. Fisher Asset Management LLC’s holdings in Suncor Energy were worth $746,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SU. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at about $31,000. Smartleaf Asset Management LLC raised its stake in shares of Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 388 shares during the period. Accent Capital Management LLC raised its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the period. Finally, Maseco LLP acquired a new stake in shares of Suncor Energy in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

NYSE:SU opened at $67.34 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock’s 50-day simple moving average is $64.86 and its 200 day simple moving average is $54.32. The company has a market cap of $79.52 billion, a P/E ratio of 17.68 and a beta of 0.31. Suncor Energy Inc. has a 52-week low of $34.99 and a 52-week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the prior year, the firm posted $1.31 EPS. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 6.79 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

SU has been the topic of several recent research reports. Royal Bank Of Canada lifted their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” 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. The Goldman Sachs Group lifted their price target on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One investment 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’s stock. According to data from MarketBeat, Suncor Energy has a consensus rating of “Buy” and an average target price of $72.00.

Suncor Energy Profile

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.