Hillsdale Investment Management Inc. Buys 62,302 Shares of Suncor Energy Inc. $SU

Hillsdale Investment Management Inc. increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 31.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,422 shares of the oil and gas producer’s stock after buying an additional 62,302 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Suncor Energy were worth $10,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after acquiring an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Suncor Energy by 172.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,254 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in Suncor Energy by 4.1% during the second quarter. 180 Wealth Advisors LLC now owns 16,394 shares of the oil and gas producer’s stock worth $614,000 after purchasing an additional 641 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Suncor Energy during the second quarter worth about $257,000. Finally, Envestnet Asset Management Inc. grew its position in Suncor Energy by 4.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 636,738 shares of the oil and gas producer’s stock worth $23,846,000 after purchasing an additional 27,711 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on SU shares. The Goldman Sachs Group lifted their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada lifted their price target on Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Trading Down 1.9%

NYSE:SU opened at $55.73 on Friday. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $57.13. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $49.14 and its 200 day moving average is $44.14. The stock has a market capitalization of $66.31 billion, a PE ratio of 16.06 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period last year, the business posted $1.25 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s payout ratio is currently 50.14%.

About Suncor Energy

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.