Maryland State Retirement & Pension System Has $8.52 Million Position in Suncor Energy Inc. (NYSE:SU)

Maryland State Retirement & Pension System lifted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 238,885 shares of the oil and gas producer’s stock after purchasing an additional 10,157 shares during the period. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $8,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its position in shares of Suncor Energy by 137.6% during the third quarter. OneDigital Investment Advisors LLC now owns 27,611 shares of the oil and gas producer’s stock worth $1,019,000 after purchasing an additional 15,991 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in Suncor Energy by 9.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 188,390 shares of the oil and gas producer’s stock worth $6,953,000 after buying an additional 15,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Suncor Energy by 23.3% during the third 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 acquiring an additional 1,829,936 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Suncor Energy by 10.0% in the third quarter. Advisors Asset Management Inc. now owns 46,229 shares of the oil and gas producer’s stock valued at $1,707,000 after acquiring an additional 4,193 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Suncor Energy by 3.2% in the third quarter. King Luther Capital Management Corp now owns 37,290 shares of the oil and gas producer’s stock worth $1,377,000 after acquiring an additional 1,147 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

SU opened at $37.61 on Wednesday. The business’s 50-day simple moving average is $38.29 and its 200 day simple moving average is $38.18. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95. 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 firm has a market capitalization of $46.52 billion, a PE ratio of 10.90, a PEG ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.