Suncor Energy Inc. $SU Stock: Walter Public Investments Inc. Boosts Holdings

Walter Public Investments Inc. grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 113.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 65,224 shares of the oil and gas producer’s stock after purchasing an additional 34,731 shares during the quarter. Walter Public Investments Inc.’s holdings in Suncor Energy were worth $4,420,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Livelsberger Financial Advisory acquired a new stake in shares of Suncor Energy in the third quarter valued at about $25,000. Versant Capital Management Inc boosted its position in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the last quarter. Continuum Advisory LLC acquired a new position in Suncor Energy during the second quarter valued at approximately $27,000. Sawyer & Company Inc acquired a new position in Suncor Energy during the third quarter valued at approximately $44,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Suncor Energy during the first quarter valued at approximately $53,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU opened at $68.96 on Thursday. The company has a market cap of $79.89 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 0.22 and a beta of 0.22. The firm has a 50-day moving average of $71.66 and a 200-day moving average of $64.11. Suncor Energy Inc. has a one year low of $42.09 and a one year high of $80.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.27.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.49. Suncor Energy had a net margin of 17.49% and a return on equity of 25.55%. The company had revenue of $13.26 billion for the quarter, compared to analysts’ expectations of $11.85 billion. During the same period in the prior year, the firm earned $1.48 EPS. As a group, equities analysts forecast that Suncor Energy Inc. will post 9.30 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 3rd will be issued a dividend of C$0.66 per share. The ex-dividend date is Thursday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 dividend on an annualized basis and a yield of 3.8%. Suncor Energy’s dividend payout ratio is 25.44%.

Analyst Ratings Changes

A number of research firms have weighed in on SU. Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research note on Wednesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $81.71.

Suncor Energy Company Profile

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.