Sage Investment Counsel LLC Invests $300,000 in Suncor Energy Inc. (NYSE:SU)

Sage Investment Counsel LLC acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, Holdings Channel.com reports. The firm acquired 8,400 shares of the oil and gas producer’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. SVB Wealth LLC acquired a new stake in Suncor Energy in the fourth quarter valued at $824,000. Private Trust Co. NA lifted its holdings in Suncor Energy by 50.2% in the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer’s stock valued at $61,000 after acquiring an additional 570 shares during the period. Proficio Capital Partners LLC acquired a new stake in Suncor Energy in the fourth quarter valued at $5,762,000. Oppenheimer Asset Management Inc. lifted its holdings in Suncor Energy by 2.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 49,210 shares of the oil and gas producer’s stock valued at $1,756,000 after acquiring an additional 1,231 shares during the period. Finally, NewEdge Wealth LLC lifted its holdings in Suncor Energy by 17.4% in the fourth quarter. NewEdge Wealth LLC now owns 859,707 shares of the oil and gas producer’s stock valued at $30,674,000 after acquiring an additional 127,237 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SU shares. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Bank of America started coverage on Suncor Energy in a research note on Wednesday. They issued a “neutral” rating for the company. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

Suncor Energy stock opened at $38.28 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a fifty day moving average of $38.28 and a two-hundred day moving average of $38.64. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.94 and a beta of 1.12. Suncor Energy Inc. has a fifty-two week low of $33.79 and a fifty-two week high of $41.94.

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

Suncor Energy Cuts Dividend

The business 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 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is 45.22%.

Suncor Energy 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.