Morningstar Investment Management LLC Buys New Shares in Suncor Energy Inc. $SU

Morningstar Investment Management LLC bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, HoldingsChannel reports. The fund bought 11,911 shares of the oil and gas producer’s stock, valued at approximately $529,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Accent Capital Management LLC grew its holdings in Suncor Energy by 37.5% in the fourth 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. Life Cycle Investment Partners Ltd acquired a new position in Suncor Energy during the fourth quarter valued at approximately $28,862,000. Cumberland Partners Ltd acquired a new position in Suncor Energy during the fourth quarter valued at approximately $294,000. Global Retirement Partners LLC lifted its position in Suncor Energy by 63.4% during the fourth quarter. Global Retirement Partners LLC now owns 6,026 shares of the oil and gas producer’s stock valued at $267,000 after buying an additional 2,338 shares in the last quarter. Finally, Burling Wealth Partners LLC lifted its position in Suncor Energy by 23.3% during the fourth quarter. Burling Wealth Partners LLC now owns 60,834 shares of the oil and gas producer’s stock valued at $2,699,000 after buying an additional 11,507 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SU shares. Wall Street Zen raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $72.00.

Suncor Energy Trading Up 0.0%

SU opened at $67.34 on Tuesday. The stock has a market capitalization of $79.52 billion, a PE ratio of 17.68 and a beta of 0.31. The firm’s fifty day moving average price is $65.01 and its 200 day moving average price is $54.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a 12-month low of $34.99 and a 12-month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company earned $1.31 earnings per share. As a group, research analysts expect that Suncor Energy Inc. will post 6.79 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

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

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.