Easterly Investment Partners LLC Purchases 2,418 Shares of Suncor Energy Inc. (NYSE:SU)

Easterly Investment Partners LLC lifted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,532 shares of the oil and gas producer’s stock after buying an additional 2,418 shares during the period. Easterly Investment Partners LLC’s holdings in Suncor Energy were worth $9,153,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SU. Vanguard Group Inc. increased its holdings in shares of Suncor Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after acquiring an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Suncor Energy by 0.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after purchasing an additional 169,700 shares in the last quarter. Toronto Dominion Bank raised its holdings in Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after buying an additional 333,440 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Suncor Energy by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock valued at $361,227,000 after buying an additional 437,252 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

NYSE:SU opened at $38.88 on Thursday. The company has a market cap of $48.09 billion, a P/E ratio of 11.27, a P/E/G ratio of 2.94 and a beta of 1.11. The firm’s fifty day moving average price is $38.15 and its two-hundred day moving average price is $38.15. Suncor Energy Inc. has a one year low of $33.81 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS 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%. Equities analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were issued a dividend of $0.399 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.11%. Suncor Energy’s payout ratio is currently 45.51%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy 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.