Entropy Technologies LP Makes New Investment in Suncor Energy Inc. (NYSE:SU)

Key Points

• Entropy Technologies LP has acquired a new position in Suncor Energy, purchasing 54,977 shares valued at approximately $2.13 million.
• Suncor Energy's stock is currently rated as a "Moderate Buy" with an average price target of $66.00, following a downgrade from a "buy" to a "hold" rating by Wall Street analysts.
• The company has announced an increase in its quarterly dividend to $0.4135, reflecting a 4.2% dividend yield for shareholders of record on September 4th.

Entropy Technologies LP purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 54,977 shares of the oil and gas producer's stock, valued at approximately $2,129,000.

A number of other institutional investors also recently bought and sold shares of SU. Hanson & Doremus Investment Management boosted its position in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Suncor Energy in the 1st quarter worth approximately $36,000. Covestor Ltd boosted its position in Suncor Energy by 30.5% in 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 in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Suncor Energy in the 1st quarter worth approximately $42,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Stock Up 0.4%

Suncor Energy stock opened at $39.19 on Monday. The stock has a market capitalization of $47.73 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 3.38 and a beta of 0.84. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.94. The business has a 50 day simple moving average of $38.83 and a 200-day simple moving average of $37.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same period in the previous year, the business earned $1.27 earnings per share. On average, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is 51.08%.

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.

Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.