Hillsdale Investment Management Inc. Has $36.75 Million Position in Suncor Energy Inc. $SU

Key Points

• Hillsdale Investment Management increased its stake in Suncor Energy by 217.4% in the fourth quarter, ending with 826,617 shares valued at about $36.75 million.
• Suncor reported Q1 earnings of $1.41 per share, slightly below expectations, but revenue came in at $10.41 billion, above analyst estimates.
• The company declared a quarterly dividend of $0.60 per share and continues to receive generally positive analyst sentiment, with a consensus Buy rating and average price target of $72.

Hillsdale Investment Management Inc. grew its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 217.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 826,617 shares of the oil and gas producer's stock after buying an additional 566,195 shares during the period. Suncor Energy makes up 1.0% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 21st biggest holding. Hillsdale Investment Management Inc. owned about 0.07% of Suncor Energy worth $36,754,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock valued at $2,473,173,000 after buying an additional 1,166,405 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer's stock worth $1,417,029,000 after purchasing an additional 145,800 shares during the period. Dodge & Cox lifted its stake in Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer's stock worth $1,148,602,000 after purchasing an additional 70,300 shares during the period. Principal Financial Group Inc. lifted its stake in Suncor Energy by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer's stock worth $860,933,000 after purchasing an additional 516,783 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Suncor Energy by 8.3% during the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer's stock worth $746,176,000 after purchasing an additional 1,289,959 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $62.34 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The firm has a market cap of $73.60 billion, a P/E ratio of 16.36 and a beta of 0.31. The firm has a 50 day simple moving average of $65.25 and a 200 day simple moving average of $55.04. Suncor Energy Inc. has a fifty-two week low of $35.29 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. Sell-side analysts predict that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy's payout ratio is currently 46.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Weiss Ratings upgraded shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, The Goldman Sachs Group raised their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $72.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.