Tacita Capital Inc Makes New Investment in Suncor Energy Inc. $SU

Tacita Capital Inc acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, Holdings Channel reports. The firm acquired 14,349 shares of the oil and gas producer’s stock, valued at approximately $770,000.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares during the period. Headlands Technologies LLC bought a new stake in Suncor Energy in the second quarter valued at $31,000. 1 North Wealth Services LLC bought a new stake in Suncor Energy in the fourth quarter valued at $32,000. Accent Capital Management LLC grew its position in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Suncor Energy during the fourth quarter worth $44,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Suncor Energy stock opened at $67.54 on Thursday. The stock has a 50-day simple moving average of $60.75 and a 200 day simple moving average of $61.45. The stock has a market capitalization of $79.75 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.49 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter last year, the company posted $0.71 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SU. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a report on Wednesday. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.25.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.