Prudential Financial Inc. Boosts Stake in Suncor Energy Inc. (NYSE:SU)

Prudential Financial Inc. increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 68.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,222 shares of the oil and gas producer’s stock after acquiring an additional 45,340 shares during the quarter. Prudential Financial Inc.’s holdings in Suncor Energy were worth $3,968,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Suncor Energy by 39.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Suncor Energy by 2,061.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after acquiring an additional 2,325,503 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Suncor Energy by 97.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock valued at $133,250,000 after acquiring an additional 1,842,791 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after purchasing an additional 1,573,726 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 0.8 %

Shares of NYSE:SU opened at $39.03 on Wednesday. The firm’s 50-day moving average is $38.11 and its two-hundred day moving average is $38.22. 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 Inc. has a 1 year low of $33.81 and a 1 year high of $41.95. The firm has a market capitalization of $48.28 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11.

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

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.09%. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

Analysts Set New Price Targets

Several research firms have weighed in on SU. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Company 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.