Purpose Unlimited Inc. Acquires Shares of 202,706 Suncor Energy Inc. $SU

Purpose Unlimited Inc. acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 202,706 shares of the oil and gas producer’s stock, valued at approximately $8,997,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC bought a new position in Suncor Energy in the second quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy in the fourth quarter worth about $32,000. Accent Capital Management LLC increased its position in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares during the period. Finally, Maseco LLP acquired a new stake in Suncor Energy in the fourth quarter worth about $39,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on SU shares. Weiss Ratings cut Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Price Performance

NYSE SU opened at $55.34 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a market cap of $65.35 billion, a price-to-earnings ratio of 14.53 and a beta of 0.27. The business has a 50 day simple moving average of $64.05 and a 200 day simple moving average of $56.80. Suncor Energy Inc. has a 52-week low of $37.22 and a 52-week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the firm posted $1.31 EPS. Analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

Suncor Energy 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.