SVB Wealth LLC Invests $824,000 in Suncor Energy Inc. (NYSE:SU)

SVB Wealth LLC acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,105 shares of the oil and gas producer’s stock, valued at approximately $824,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Suncor Energy by 1.3% in the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after buying an additional 180,533 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Suncor Energy by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after acquiring an additional 413,797 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 5.3 %

Shares of NYSE SU opened at $36.25 on Tuesday. The business has a fifty day moving average price of $38.30 and a 200 day moving average price of $38.56. Suncor Energy Inc. has a 1-year low of $34.12 and a 1-year high of $41.94. 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 stock has a market capitalization of $45.00 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is presently 45.22%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent research reports. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Finally, StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.