Wahed Invest LLC Acquires 2,112 Shares of Suncor Energy Inc. (NYSE:SU)

Wahed Invest LLC increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,056 shares of the oil and gas producer’s stock after purchasing an additional 2,112 shares during the period. Wahed Invest LLC’s holdings in Suncor Energy were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SU. Jones Financial Companies Lllp boosted its position in shares of Suncor Energy by 86.0% during the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after purchasing an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC bought a new position in Suncor Energy in the fourth quarter worth approximately $300,000. J.W. Cole Advisors Inc. acquired a new stake in Suncor Energy in the fourth quarter valued at approximately $236,000. Bank of New York Mellon Corp increased its holdings in shares of Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after acquiring an additional 1,573,726 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Suncor Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock worth $159,030,000 after purchasing an additional 99,669 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Trading Up 0.9 %

Shares of Suncor Energy stock opened at $36.03 on Friday. The firm has a market cap of $44.43 billion, a PE ratio of 10.44, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The stock has a fifty day moving average price of $35.85 and a 200-day moving average price of $37.57.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

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.