Mediolanum International Funds Ltd Invests $7.64 Million in Suncor Energy Inc. (NYSE:SU)

Mediolanum International Funds Ltd purchased a new position in Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 206,980 shares of the oil and gas producer’s stock, valued at approximately $7,640,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of Suncor Energy during the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in shares of Suncor Energy during the 4th quarter valued at $25,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 313 shares during the period. Adirondack Trust Co. lifted its position in shares of Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 313 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Suncor Energy during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of research reports. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 24th. Morgan Stanley boosted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. TD Securities boosted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group boosted their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Four 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.67.

Read Our Latest Stock Report on SU

Suncor Energy Stock Up 1.2 %

Shares of NYSE SU traded up $0.44 during trading on Wednesday, hitting $37.90. The stock had a trading volume of 3,323,312 shares, compared to its average volume of 4,641,720. Suncor Energy Inc. has a 12 month low of $28.65 and a 12 month high of $41.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market capitalization of $48.56 billion, a PE ratio of 8.40, a PEG ratio of 3.60 and a beta of 1.12. The firm has a fifty day moving average of $38.64 and a two-hundred day moving average of $36.11.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.17%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.19%.

Suncor Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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