Leigh Baldwin & CO. LLC Buys New Shares in Suncor Energy Inc. (NYSE:SU)

Leigh Baldwin & CO. LLC bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 316,431 shares of the oil and gas producer’s stock, valued at approximately $11,290,000.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in Suncor Energy by 86.0% in the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after buying an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC purchased a new position in Suncor Energy in the fourth quarter worth $300,000. J.W. Cole Advisors Inc. bought a new position in Suncor Energy in the 4th quarter valued at $236,000. Bank of New York Mellon Corp increased its position in shares of Suncor Energy by 104.2% during the 4th 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 purchasing an additional 1,573,726 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Suncor Energy by 2.3% during the 4th 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. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Scotiabank raised shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating for the company. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $59.20.

Suncor Energy Stock Performance

Suncor Energy stock opened at $34.97 on Monday. The firm has a fifty day simple moving average of $35.59 and a two-hundred day simple moving average of $37.40. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The company has a market capitalization of $43.12 billion, a PE ratio of 10.14, a P/E/G ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the previous year, the company posted $1.41 EPS. Research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy’s dividend payout ratio is currently 45.24%.

Suncor Energy Profile

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.