Salem Investment Counselors Inc. Raises Holdings in Suncor Energy Inc. (NYSE:SU)

Salem Investment Counselors Inc. raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 97.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 820 shares of the oil and gas producer’s stock after purchasing an additional 405 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Suncor Energy were worth $32,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in Suncor Energy by 86.0% in the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after buying an additional 31,366 shares during the period. Sage Investment Counsel LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth about $300,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter worth approximately $236,000. Bank of New York Mellon Corp raised its holdings in Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after acquiring an additional 1,573,726 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Suncor Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock worth $159,030,000 after acquiring an additional 99,669 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $40.92 on Friday. The stock has a market cap of $50.25 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The stock has a 50 day moving average of $35.50 and a two-hundred day moving average of $36.90. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same quarter in the prior year, the business earned $1.41 EPS. On average, research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be given a $0.4133 dividend. This represents a $1.65 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 47.55%.

Wall Street Analysts Forecast Growth

SU has been the subject of several recent analyst reports. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $64.67.

Suncor Energy Company 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.