BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Position in Suncor Energy Inc. (NYSE:SU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 500.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,453,314 shares of the oil and gas producer's stock after purchasing an additional 2,044,680 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.20% of Suncor Energy worth $87,459,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SU. Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Bank of America initiated coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They issued a "neutral" rating on the stock. 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, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and a consensus price target of $64.67.

Suncor Energy Stock Performance

Suncor Energy stock traded up $0.37 during mid-day trading on Monday, reaching $35.74. The company's stock had a trading volume of 4,215,880 shares, compared to its average volume of 4,488,292. The firm's fifty day moving average price is $35.55 and its two-hundred day moving average price is $37.21. 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 company has a market capitalization of $44.07 billion, a P/E ratio of 10.36, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating 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 company had revenue of $9.10 billion during the quarter, compared to analysts' expectations of $13.39 billion. During the same period in the previous year, the business earned $1.41 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is presently 45.53%.

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.