Hillsdale Investment Management Inc. Increases Stake in Suncor Energy Inc. (NYSE:SU)

Hillsdale Investment Management Inc. grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 111.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 764,308 shares of the oil and gas producer’s stock after acquiring an additional 403,622 shares during the quarter. Suncor Energy comprises about 1.4% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 15th largest position. Hillsdale Investment Management Inc. owned 0.06% of Suncor Energy worth $27,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in Suncor Energy by 10.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 46,229 shares of the oil and gas producer’s stock worth $1,707,000 after buying an additional 4,193 shares during the period. King Luther Capital Management Corp increased its stake in Suncor Energy by 3.2% in the 3rd quarter. King Luther Capital Management Corp now owns 37,290 shares of the oil and gas producer’s stock worth $1,377,000 after buying an additional 1,147 shares during the period. Banco Santander S.A. purchased a new position in Suncor Energy in the 3rd quarter worth about $750,000. Charles Schwab Investment Management Inc. increased its stake in Suncor Energy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,357,656 shares of the oil and gas producer’s stock worth $161,006,000 after buying an additional 169,916 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Suncor Energy by 4.0% in the 3rd quarter. Raymond James Trust N.A. now owns 22,508 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 867 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SU shares. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Down 0.7 %

NYSE:SU opened at $37.46 on Friday. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The stock has a market capitalization of $46.34 billion, a P/E ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company’s 50-day simple moving average is $38.22 and its 200-day simple moving average is $38.15.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

About Suncor Energy

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.