Entropy Technologies LP Purchases 49,877 Shares of Suncor Energy Inc. $SU

Key Points

• Entropy Technologies LP increased its stake in Suncor by 101.8%, buying 49,877 shares to hold 98,880 shares worth about $4.13 million at the end of the quarter.
• Multiple large institutions (Artisan, Fisher, Arrowstreet, Canada Pension Plan, OMERS) also meaningfully boosted or initiated positions, leaving institutional investors with about 67.37% ownership of the company.
• Analyst sentiment is broadly positive—JPMorgan upgraded to overweight (PT $54) and Goldman raised its target to $62, with MarketBeat’s average rating at "Moderate Buy" (avg target $63.67); Suncor recently beat EPS estimates and declared a $0.60 quarterly dividend (4.0% yield).

Entropy Technologies LP grew its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 101.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,880 shares of the oil and gas producer's stock after purchasing an additional 49,877 shares during the period. Entropy Technologies LP's holdings in Suncor Energy were worth $4,134,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SU. Artisan Partners Limited Partnership grew its position in shares of Suncor Energy by 38.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer's stock valued at $1,264,043,000 after purchasing an additional 9,378,552 shares during the period. Fisher Asset Management LLC increased its stake in Suncor Energy by 85.5% during the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer's stock worth $649,350,000 after purchasing an additional 7,158,953 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Suncor Energy by 62.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer's stock worth $557,682,000 after buying an additional 5,113,280 shares during the period. Canada Pension Plan Investment Board lifted its stake in Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer's stock valued at $395,649,000 after buying an additional 2,406,000 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Suncor Energy in the second quarter valued at approximately $74,767,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research note on Sunday, December 28th. Weiss Ratings restated a "buy (b)" rating on shares of Suncor Energy in a report on Monday, December 29th. Zacks Research downgraded Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group lifted their target price on Suncor Energy from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.67.

Suncor Energy Stock Up 2.5%

Shares of SU stock opened at $59.76 on Friday. The firm's fifty day moving average price is $53.00 and its two-hundred day moving average price is $45.90. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $60.09. The firm has a market capitalization of $71.10 billion, a P/E ratio of 17.22 and a beta of 0.43.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter last year, the company earned $1.25 EPS. On average, equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 4.0%. Suncor Energy's dividend payout ratio is 50.72%.

Suncor Energy Profile

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.

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