Purpose Unlimited Inc. Takes Position in Suncor Energy Inc. $SU

Purpose Unlimited Inc. bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 202,706 shares of the oil and gas producer’s stock, valued at approximately $8,997,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC grew its position in Suncor Energy by 85.5% in the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after acquiring an additional 7,158,953 shares during the period. AQR Capital Management LLC raised its stake in Suncor Energy by 7,636.8% during the fourth quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock worth $267,042,000 after acquiring an additional 5,938,719 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Suncor Energy by 62.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after acquiring an additional 5,113,280 shares during the period. FIL Ltd lifted its holdings in shares of Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock valued at $934,312,000 after acquiring an additional 2,592,516 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Suncor Energy by 5,468.8% in the 4th 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. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of SU stock opened at $55.34 on Friday. Suncor Energy Inc. has a 52 week low of $37.22 and a 52 week high of $70.29. The stock has a market capitalization of $65.35 billion, a PE ratio of 14.53 and a beta of 0.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock’s fifty day moving average is $64.05 and its 200-day moving average is $56.80.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate 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 firm earned $1.31 earnings per share. Equities research analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. Suncor Energy’s payout ratio is currently 45.67%.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Royal Bank Of Canada boosted 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. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Finally, Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

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.