Artisan Partners Limited Partnership Boosts Stake in Suncor Energy Inc. $SU

Artisan Partners Limited Partnership increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,868,775 shares of the oil and gas producer’s stock after purchasing an additional 145,800 shares during the quarter. Suncor Energy makes up about 2.0% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 12th largest holding. Artisan Partners Limited Partnership owned about 2.81% of Suncor Energy worth $1,417,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. raised its holdings in Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at $31,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 388 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Suncor Energy in the 2nd quarter worth about $37,000. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SU. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. The Goldman Sachs Group raised their price objective on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Stock Down 0.4%

SU opened at $55.50 on Friday. The stock has a market capitalization of $66.04 billion, a price-to-earnings ratio of 15.99 and a beta of 0.46. The firm has a 50 day moving average price of $50.19 and a 200-day moving average price of $44.60. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $57.13. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 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 net margin of 11.99% and a return on equity of 12.51%. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.3%. Suncor Energy’s dividend payout ratio is currently 49.57%.

Suncor Energy Company Profile

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.