Suncor Energy Inc. (NYSE:SU) Shares Acquired by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,437 shares of the oil and gas producer’s stock after buying an additional 5,612 shares during the quarter. Suncor Energy comprises 1.6% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 22nd biggest holding. Arcadia Investment Management Corp MI’s holdings in Suncor Energy were worth $9,756,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SU. Eastern Bank acquired a new position in Suncor Energy during the third quarter worth $25,000. HHM Wealth Advisors LLC raised its holdings in Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Suncor Energy during the fourth quarter worth $39,000. Stonebridge Financial Group LLC purchased a new position in Suncor Energy during the fourth quarter worth $45,000. Finally, Waldron Private Wealth LLC purchased a new position in Suncor Energy during the third quarter worth $49,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on SU shares. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $40.19 on Friday. The company has a market cap of $50.02 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.92 and a beta of 1.12. 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 Inc. has a 52 week low of $32.64 and a 52 week high of $41.94. The business has a fifty day simple moving average of $37.89 and a 200-day simple moving average of $38.64.

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

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 46.67%.

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.