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

Ninepoint Partners LP lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 55.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,000,000 shares of the oil and gas producer’s stock after selling 1,250,000 shares during the period. Suncor Energy makes up about 3.4% of Ninepoint Partners LP’s holdings, making the stock its 5th biggest holding. Ninepoint Partners LP’s holdings in Suncor Energy were worth $32,040,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SU. Pinnacle Associates Ltd. lifted its stake in shares of Suncor Energy by 0.6% in the third quarter. Pinnacle Associates Ltd. now owns 47,669 shares of the oil and gas producer’s stock worth $1,639,000 after acquiring an additional 300 shares during the period. Hexagon Capital Partners LLC increased its holdings in Suncor Energy by 19.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,931 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 308 shares in the last quarter. Private Trust Co. NA increased its holdings in Suncor Energy by 38.4% in the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 339 shares in the last quarter. Gradient Investments LLC increased its holdings in Suncor Energy by 1.0% in the third quarter. Gradient Investments LLC now owns 33,205 shares of the oil and gas producer’s stock worth $1,142,000 after purchasing an additional 345 shares in the last quarter. Finally, First Financial Corp IN increased its holdings in Suncor Energy by 3.3% in the fourth quarter. First Financial Corp IN now owns 12,422 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 393 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SU. Morgan Stanley upped their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Suncor Energy Price Performance

NYSE SU traded up $0.74 during trading on Friday, reaching $38.79. The company’s stock had a trading volume of 1,738,884 shares, compared to its average volume of 4,317,424. The stock has a market capitalization of $49.93 billion, a PE ratio of 8.10, a P/E/G ratio of 3.34 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a fifty day moving average of $35.62 and a 200 day moving average of $33.64. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.32.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The company had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Analysts expect that Suncor Energy Inc. will post 3.78 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were given a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.19%. Suncor Energy’s dividend payout ratio is currently 34.26%.

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.