Proficio Capital Partners LLC Makes New $5.76 Million Investment in Suncor Energy Inc. (NYSE:SU)

Proficio Capital Partners LLC acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 161,488 shares of the oil and gas producer’s stock, valued at approximately $5,762,000.

A number of other hedge funds also recently made changes to their positions in SU. HHM Wealth Advisors LLC raised its holdings in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Suncor Energy in the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC bought a new position in Suncor Energy in the 4th quarter valued at approximately $45,000. UMB Bank n.a. raised its holdings in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 300 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Suncor Energy by 50.2% during the 4th quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 570 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Bank of America began coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

SU opened at $36.63 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The company has a market capitalization of $45.32 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 2.94 and a beta of 1.11. The firm’s fifty day moving average price is $38.29 and its two-hundred day moving average price is $38.22. Suncor Energy Inc. has a 1 year low of $33.81 and a 1 year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

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.