Tidal Investments LLC Grows Stock Position in Suncor Energy Inc. (NYSE:SU)

Tidal Investments LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 59.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,971 shares of the oil and gas producer’s stock after purchasing an additional 8,207 shares during the period. Tidal Investments LLC’s holdings in Suncor Energy were worth $811,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Eastern Bank bought a new stake in Suncor Energy during the third quarter valued at about $25,000. Summit Securities Group LLC bought a new position in shares of Suncor Energy during the 2nd quarter valued at approximately $27,000. Richardson Financial Services Inc. grew its stake in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the period. Ridgewood Investments LLC purchased a new stake in Suncor Energy in the 2nd quarter worth approximately $29,000. Finally, Waldron Private Wealth LLC bought a new stake in Suncor Energy during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.3 %

SU opened at $34.50 on Friday. The company has a market capitalization of $43.41 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The firm has a 50-day simple moving average of $38.68 and a two-hundred day simple moving average of $38.57. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 52 week low of $31.03 and a 52 week high of $41.94.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.74%. Suncor Energy’s dividend payout ratio is presently 36.60%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Friday. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.