Pennsylvania Trust Co Takes $1.43 Million Position in Suncor Energy Inc. (SU)
Pennsylvania Trust Co purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,561 shares of the oil and gas producer’s stock, valued at approximately $1,425,000.
Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Suncor Energy by 19,812.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,430,116 shares of the oil and gas producer’s stock valued at $326,160,000 after purchasing an additional 8,387,781 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of Suncor Energy by 28.1% during the 3rd quarter. Paloma Partners Management Co now owns 7,262 shares of the oil and gas producer’s stock valued at $281,000 after purchasing an additional 1,592 shares in the last quarter. Man Group plc boosted its position in shares of Suncor Energy by 1.9% during the 3rd quarter. Man Group plc now owns 143,614 shares of the oil and gas producer’s stock valued at $5,555,000 after purchasing an additional 2,634 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Suncor Energy during the 3rd quarter valued at about $260,000. Finally, Captrust Financial Advisors boosted its position in shares of Suncor Energy by 184.4% during the 3rd quarter. Captrust Financial Advisors now owns 17,626 shares of the oil and gas producer’s stock valued at $682,000 after purchasing an additional 11,429 shares in the last quarter. 65.93% of the stock is owned by institutional investors.
Several equities research analysts recently commented on SU shares. Zacks Investment Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. Royal Bank of Canada restated a “buy” rating and set a $53.00 target price on shares of Suncor Energy in a research report on Monday, January 7th. UBS Group restated a “buy” rating and set a $49.00 target price on shares of Suncor Energy in a research report on Monday, January 7th. Credit Suisse Group assumed coverage on Suncor Energy in a research report on Monday, January 28th. They set a “neutral” rating and a $32.02 target price on the stock. Finally, Morgan Stanley reiterated a “buy” rating on shares of Suncor Energy in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Suncor Energy has a consensus rating of “Buy” and an average price target of $49.93.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.11). The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $8.13 billion. Suncor Energy had a return on equity of 9.50% and a net margin of 8.48%. Equities research analysts anticipate that Suncor Energy Inc. will post 1.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.28 annualized dividend and a yield of 3.86%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.27. Suncor Energy’s dividend payout ratio is presently 63.50%.
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About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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