Ameriprise Financial Inc. Purchases 77,556 Shares of Suncor Energy Inc. (NYSE:SU)

Ameriprise Financial Inc. boosted its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 623,306 shares of the oil and gas producer's stock after purchasing an additional 77,556 shares during the quarter. Ameriprise Financial Inc. owned about 0.05% of Suncor Energy worth $22,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in SU. HHM Wealth Advisors LLC grew its holdings in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Crowley Wealth Management Inc. purchased a new position in Suncor Energy in the fourth quarter valued at $35,000. Lee Danner & Bass Inc. purchased a new stake in Suncor Energy in the 4th quarter worth $36,000. Golden State Wealth Management LLC purchased a new stake in Suncor Energy during the 4th quarter worth approximately $39,000. Finally, Covestor Ltd raised its position in shares of Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Trading Up 0.3%

Shares of SU stock traded up $0.10 during trading hours on Tuesday, reaching $35.49. 370,225 shares of the stock traded hands, compared to its average volume of 4,871,967. The business has a fifty day moving average price of $35.67 and a 200 day moving average price of $37.31. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.94. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $43.76 billion, a PE ratio of 10.28, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.66%. The ex-dividend date is Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is presently 45.53%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SU. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Bank of America began coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating for the company. StockNews.com cut Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Scotiabank raised shares of Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.20.

About Suncor Energy

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.