Blue Capital Inc. Takes $3.47 Million Position in Suncor Energy Inc. $SU

Blue Capital Inc. purchased a new position in shares of Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) during the first quarter, Holdings Channel.com reports. The fund purchased 52,451 shares of the oil and gas producer’s stock, valued at approximately $3,468,000. Suncor Energy accounts for 2.3% of Blue Capital Inc.’s holdings, making the stock its 9th largest position.

Several other hedge funds have also made changes to their positions in the stock. Swiss Life Asset Management Ltd increased its stake in shares of Suncor Energy by 35.0% in the third quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock valued at $4,240,000 after purchasing an additional 26,252 shares during the period. Intact Investment Management Inc. boosted its position in shares of Suncor Energy by 36.3% during the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock worth $75,236,000 after buying an additional 451,110 shares during the period. American Century Companies Inc. grew its holdings in Suncor Energy by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after buying an additional 18,231 shares in the last quarter. Cantor Fitzgerald L. P. bought a new position in Suncor Energy in the 3rd quarter worth approximately $1,067,000. Finally, Harvest Portfolios Group Inc. increased its position in Suncor Energy by 9.1% in the 4th quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock valued at $16,008,000 after acquiring an additional 30,210 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

SU opened at $55.02 on Friday. The business has a 50 day moving average price of $62.51 and a two-hundred day moving average price of $57.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company has a market capitalization of $64.96 billion, a price-to-earnings ratio of 14.44 and a beta of 0.30. Suncor Energy Inc. has a 1-year low of $37.55 and a 1-year high of $70.29.

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

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.4%. Suncor Energy’s payout ratio is 45.67%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SU shares. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $71.67.

View Our Latest Stock Report on Suncor Energy

About Suncor Energy

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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