Gabelli Funds LLC Purchases 11,800 Shares of Suncor Energy Inc. $SU

Gabelli Funds LLC grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 126,900 shares of the oil and gas producer’s stock after buying an additional 11,800 shares during the quarter. Gabelli Funds LLC’s holdings in Suncor Energy were worth $5,629,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SU. AQR Capital Management LLC raised its stake in shares of Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after acquiring an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Suncor Energy by 172.5% in 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 acquiring an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 464 shares during the last quarter. AXA S.A. raised its stake in shares of Suncor Energy by 17.2% in the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after acquiring an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Suncor Energy by 6.4% in the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after acquiring an additional 4,043 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SU. The Goldman Sachs Group raised their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $72.00.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $67.89 on Thursday. 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 firm has a market cap of $80.16 billion, a P/E ratio of 17.82 and a beta of 0.31. The firm has a 50 day simple moving average of $64.47 and a 200 day simple moving average of $53.93. Suncor Energy Inc. has a fifty-two week low of $34.67 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business posted $1.31 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 6.79 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.19%.

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.