Hillsdale Investment Management Inc. Lowers Stock Position in Suncor Energy Inc. $SU

Hillsdale Investment Management Inc. lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 706,845 shares of the oil and gas producer’s stock after selling 119,772 shares during the period. Suncor Energy accounts for approximately 1.3% of Hillsdale Investment Management Inc.’s holdings, making the stock its 15th biggest position. Hillsdale Investment Management Inc. owned 0.06% of Suncor Energy worth $46,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SU. AQR Capital Management LLC lifted its position in Suncor Energy by 7,636.8% during the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock valued at $267,042,000 after acquiring an additional 5,938,719 shares during the period. FIL Ltd grew its holdings in Suncor Energy by 14.0% in the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after purchasing an additional 2,592,516 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Suncor Energy by 5,468.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,289,219 shares of the oil and gas producer’s stock valued at $101,609,000 after purchasing an additional 2,248,111 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $93,960,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Suncor Energy by 334.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock valued at $108,324,000 after purchasing an additional 1,995,007 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of analyst reports. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. Finally, Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $71.67.

Suncor Energy Stock Up 3.3%

Suncor Energy stock opened at $61.22 on Tuesday. The firm has a market cap of $72.28 billion, a price-to-earnings ratio of 16.07 and a beta of 0.30. The stock has a fifty day simple moving average of $61.45 and a two-hundred day simple moving average of $58.28. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

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 for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. Equities analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s payout ratio is 45.67%.

About Suncor Energy

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.