Fisher Asset Management LLC Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

Fisher Asset Management LLC grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 97.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,734,572 shares of the oil and gas producer’s stock after purchasing an additional 1,842,791 shares during the period. Fisher Asset Management LLC owned about 0.30% of Suncor Energy worth $133,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SU. Assenagon Asset Management S.A. increased its stake in Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after purchasing an additional 3,225,543 shares during the period. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after buying an additional 2,767,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after buying an additional 1,829,936 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after buying an additional 1,573,726 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Suncor Energy during the third quarter worth approximately $23,286,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SU shares. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Bank of America started coverage on shares of Suncor Energy in a research note on Wednesday. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

Shares of SU opened at $38.28 on Friday. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. Suncor Energy Inc. has a 52-week low of $33.79 and a 52-week high of $41.94. The stock has a 50 day moving average price of $38.28 and a 200 day moving average price of $38.62. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

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

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.22%.

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.