Mirabella Financial Services LLP Has $2 Million Stock Position in Suncor Energy Inc. $SU

Mirabella Financial Services LLP raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 369.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,848 shares of the oil and gas producer’s stock after purchasing an additional 37,650 shares during the quarter. Mirabella Financial Services LLP’s holdings in Suncor Energy were worth $1,999,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Archford Capital Strategies LLC lifted its holdings in shares of Suncor Energy by 1.2% during the 3rd quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock valued at $987,000 after buying an additional 272 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares in the last quarter. D Orazio & Associates Inc. increased its holdings in Suncor Energy by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer’s stock worth $305,000 after buying an additional 275 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Suncor Energy by 10.5% in the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock worth $123,000 after buying an additional 280 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Suncor Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 43,083 shares of the oil and gas producer’s stock valued at $1,801,000 after acquiring an additional 301 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SU shares. The Goldman Sachs Group lifted their target price on shares of Suncor Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Royal Bank Of Canada raised their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Suncor Energy Stock Up 1.7%

SU opened at $60.58 on Tuesday. The firm has a market cap of $72.08 billion, a P/E ratio of 17.46 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. The business has a 50 day moving average price of $53.60 and a 200 day moving average price of $46.25. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $60.67.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter last year, the company posted $1.25 earnings per share. Research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.0%. Suncor Energy’s dividend payout ratio (DPR) is presently 50.72%.

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.