Pekin Hardy Strauss Inc. Has $6.30 Million Holdings in Suncor Energy Inc. (NYSE:SU)

Pekin Hardy Strauss Inc. trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,629 shares of the oil and gas producer’s stock after selling 3,831 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $6,302,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its stake in Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares in the last quarter. CIBC Asset Management Inc increased its stake in Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after purchasing an additional 180,533 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 purchasing an additional 2,767,043 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Suncor Energy by 23.3% during the 3rd 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 purchasing an additional 1,829,936 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Suncor Energy by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after purchasing an additional 413,797 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Suncor Energy Trading Down 1.8 %

NYSE SU opened at $39.46 on Friday. The company has a market cap of $49.11 billion, a PE ratio of 11.44, a PEG ratio of 2.94 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 12 month low of $33.26 and a 12 month high of $41.94. The stock has a 50 day moving average of $37.95 and a 200-day moving average of $38.67.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is 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.