Suncor Energy Inc. $SU Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group boosted its stake in Suncor by 2.1% in Q4 to 55,720,921 shares (4.67% ownership), worth about $2.47 billion.
• Multiple analysts have upgraded Suncor—RBC raised its target to $89 and Goldman to $73—leaving a consensus Buy rating with an average target of $72.
• Suncor is trading near $67, reported Q EPS of $0.79 (slightly above estimates), and pays a $0.60 quarterly dividend (annualized $2.40, about a 3.6% yield).

Vanguard Group Inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,720,921 shares of the oil and gas producer's stock after purchasing an additional 1,166,405 shares during the period. Vanguard Group Inc. owned 4.67% of Suncor Energy worth $2,473,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SU. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 225 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at about $31,000. Smartleaf Asset Management LLC grew its holdings in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 388 shares during the period. Finally, Maseco LLP purchased a new stake in shares of Suncor Energy in the fourth quarter valued at about $39,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SU shares. ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Royal Bank Of Canada upped their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $72.00.

Suncor Energy Trading Up 2.9%

NYSE SU opened at $67.09 on Thursday. The firm's 50-day moving average is $61.79 and its two-hundred day moving average is $51.31. Suncor Energy Inc. has a 12 month low of $33.50 and a 12 month high of $67.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The stock has a market capitalization of $79.45 billion, a P/E ratio of 19.33 and a beta of 0.32.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 5.72 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy's payout ratio is presently 50.43%.

Suncor Energy Company 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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