Sequoia Financial Advisors LLC Grows Position in Suncor Energy Inc. (NYSE:SU)

Sequoia Financial Advisors LLC grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 74.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,174 shares of the oil and gas producer’s stock after buying an additional 9,068 shares during the period. Sequoia Financial Advisors LLC’s holdings in Suncor Energy were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Suncor Energy by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after buying an additional 731,163 shares in the last quarter. Ninepoint Partners LP purchased a new position in shares of Suncor Energy in the third quarter valued at $77,355,000. JPMorgan Chase & Co. raised its stake in shares of Suncor Energy by 13.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after purchasing an additional 628,262 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Suncor Energy by 1,689.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock worth $18,118,000 after purchasing an additional 533,754 shares in the last quarter. Finally, FMR LLC lifted its holdings in Suncor Energy by 0.3% during the 3rd quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock worth $593,188,000 after purchasing an additional 49,765 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU opened at $37.18 on Tuesday. Suncor Energy Inc. has a 12-month low of $27.59 and a 12-month high of $39.32. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $47.86 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 3.46 and a beta of 1.13. The stock has a 50-day moving average price of $35.28 and a 200-day moving average price of $33.56.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.63 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were paid a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio is currently 34.26%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SU. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley upped their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.