Walter Public Investments Inc. Buys New Holdings in Suncor Energy Inc. $SU

Key Points

• Walter Public Investments initiated a new stake in Suncor Energy, buying 205,000 shares valued at about $13.56 million. The holding makes up 3.2% of its portfolio and is now its 11th-largest position.
• Suncor reported quarterly EPS of $1.41, missing estimates by $0.04, though revenue came in at $10.41 billion, above expectations. Analysts are still forecasting full-year EPS of 7.07.
• The company paid a quarterly dividend of $0.60 per share, or $2.40 annualized, for a yield of about 4.4%. Suncor also has a Moderate Buy consensus rating with an average price target of $71.67.

Walter Public Investments Inc. purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 205,000 shares of the oil and gas producer's stock, valued at approximately $13,559,000. Suncor Energy comprises about 3.2% of Walter Public Investments Inc.'s portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Suncor Energy by 7,636.8% in the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer's stock valued at $267,042,000 after purchasing an additional 5,938,719 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Suncor Energy by 62.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer's stock valued at $557,682,000 after buying an additional 5,113,280 shares during the period. FIL Ltd raised its holdings in Suncor Energy by 14.0% in the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer's stock valued at $934,312,000 after buying an additional 2,592,516 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Suncor Energy by 5,468.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,289,219 shares of the oil and gas producer's stock valued at $101,609,000 after buying an additional 2,248,111 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Suncor Energy during the fourth quarter worth approximately $93,960,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.1%

NYSE SU opened at $55.02 on Friday. The stock has a market cap of $64.96 billion, a PE ratio of 14.44 and a beta of 0.30. Suncor Energy Inc. has a fifty-two week low of $37.55 and a fifty-two week high of $70.29. The business has a 50 day moving average price of $62.34 and a two-hundred day moving average price of $57.52. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

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

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy's dividend payout ratio (DPR) is presently 45.41%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SU. Royal Bank Of Canada increased their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Finally, Wall Street Zen lowered Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Suncor Energy currently has an average rating of "Moderate Buy" and an average price target of $71.67.

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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