Ninepoint Partners LP Grows Stock Position in Suncor Energy Inc. (NYSE:SU)

Ninepoint Partners LP raised its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2,030.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,573,648 shares of the oil and gas producer’s stock after buying an additional 1,499,779 shares during the period. Suncor Energy comprises approximately 8.2% of Ninepoint Partners LP’s portfolio, making the stock its 4th largest position. Ninepoint Partners LP owned about 0.13% of Suncor Energy worth $56,148,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its position in Suncor Energy by 32.3% during the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 20,081 shares during the period. Jones Financial Companies Lllp boosted its position in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after buying an additional 31,366 shares during the period. Sage Investment Counsel LLC purchased a new stake in Suncor Energy during the fourth quarter valued at about $300,000. Intech Investment Management LLC boosted its position in Suncor Energy by 1,345.8% during the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after buying an additional 436,016 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new stake in Suncor Energy during the fourth quarter valued at about $236,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SU has been the subject of several analyst reports. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Performance

Shares of SU opened at $36.63 on Friday. 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 one year low of $33.81 and a one year high of $41.95. The company has a 50-day simple moving average of $38.29 and a two-hundred day simple moving average of $38.24. The firm has a market capitalization of $45.32 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its 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, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

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