Garde Capital Inc. Takes Position in Suncor Energy Inc. (NYSE:SU)

Garde Capital Inc. bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 1st quarter, HoldingsChannel reports. The fund bought 1,713 shares of the oil and gas producer’s stock, valued at approximately $66,000.

Several other large investors have also recently made changes to their positions in SU. Hanson & Doremus Investment Management increased its position in shares of Suncor Energy by 143.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 405 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth $36,000. Finally, Covestor Ltd grew its stake in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 256 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.67.

Suncor Energy Stock Up 0.3%

SU stock opened at $40.17 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $49.11 billion, a PE ratio of 11.58, a PEG ratio of 3.49 and a beta of 0.79. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The stock has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $36.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. During the same quarter in the previous year, the firm earned $1.41 EPS. On average, equities analysts predict that Suncor Energy Inc. will post 3.42 EPS 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 given a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Wednesday, June 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is 47.55%.

Suncor Energy Company 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.