Medici Capital LLC Acquires Shares of 29,900 Suncor Energy Inc. (NYSE:SU)

Medici Capital LLC bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 29,900 shares of the oil and gas producer’s stock, valued at approximately $1,158,000. Suncor Energy makes up approximately 1.4% of Medici Capital LLC’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Suncor Energy by 2,061.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after purchasing an additional 2,325,503 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Suncor Energy by 500.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock valued at $87,459,000 after buying an additional 2,044,680 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Suncor Energy by 97.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after buying an additional 1,842,791 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Suncor Energy by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer’s stock worth $278,537,000 after buying an additional 1,737,573 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

NYSE:SU opened at $40.67 on Tuesday. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a 50 day moving average price of $35.68 and a 200 day moving average price of $36.89. The stock has a market capitalization of $49.73 billion, a P/E ratio of 11.79, a PEG ratio of 2.94 and a beta of 0.79.

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

Suncor Energy Increases Dividend

The company also recently announced 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 represents a $1.65 dividend on an annualized basis and a yield of 4.06%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 47.55%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, Bank of America initiated coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.67.

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.