Proficio Capital Partners LLC Buys New Shares in Suncor Energy Inc. (NYSE:SU)

Proficio Capital Partners LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 161,488 shares of the oil and gas producer’s stock, valued at approximately $5,762,000.

Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in Suncor Energy by 1.8% in the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after buying an additional 333,440 shares during the period. CIBC Asset Management Inc raised its stake in Suncor Energy by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after acquiring an additional 180,533 shares during the period. Principal Financial Group Inc. lifted its holdings in Suncor Energy by 39.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the period. Finally, Geode Capital Management LLC boosted its position in Suncor Energy by 7.6% during the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after purchasing an additional 413,797 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 5.3 %

Shares of SU stock opened at $36.25 on Tuesday. The stock has a market cap of $45.00 billion, a P/E ratio of 10.51, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. Suncor Energy Inc. has a 1 year low of $34.12 and a 1 year high of $41.94. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $38.30 and a 200 day simple moving average of $38.56.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.40%. Suncor Energy’s payout ratio is 45.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.