Alyeska Investment Group L.P. Raises Stake in Suncor Energy Inc. (NYSE:SU)

Alyeska Investment Group L.P. lifted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,285,828 shares of the oil and gas producer's stock after buying an additional 336,796 shares during the period. Alyeska Investment Group L.P. owned about 0.10% of Suncor Energy worth $45,878,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SU. HHM Wealth Advisors LLC boosted its holdings in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 325 shares during the period. Crowley Wealth Management Inc. bought a new position in Suncor Energy during the fourth quarter valued at $35,000. Lee Danner & Bass Inc. bought a new stake in shares of Suncor Energy in the 4th quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth about $39,000. Finally, Covestor Ltd grew its holdings in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 256 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank raised Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. StockNews.com lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a "neutral" rating for the company. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Suncor Energy Stock Up 2.0 %

NYSE:SU traded up $0.68 during midday trading on Friday, reaching $34.93. 1,230,738 shares of the stock traded hands, compared to its average volume of 4,561,535. The business has a 50-day moving average of $35.60 and a two-hundred day moving average of $37.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.95. The stock has a market capitalization of $43.07 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The business had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the company earned $1.41 earnings per share. On average, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.73%. Suncor Energy's dividend payout ratio is presently 45.24%.

About Suncor Energy

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.