Park Avenue Securities LLC Purchases 2,940 Shares of Suncor Energy Inc. (NYSE:SU)

Park Avenue Securities LLC grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,798 shares of the oil and gas producer’s stock after acquiring an additional 2,940 shares during the period. Park Avenue Securities LLC’s holdings in Suncor Energy were worth $706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Eastern Bank bought a new stake in Suncor Energy during the 3rd quarter worth about $25,000. Waldron Private Wealth LLC acquired a new position in shares of Suncor Energy during the third quarter worth approximately $49,000. Transamerica Financial Advisors Inc. grew its stake in shares of Suncor Energy by 2,311.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,895 shares during the last quarter. Mattson Financial Services LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at approximately $82,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Suncor Energy in the 3rd quarter worth approximately $104,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SU shares. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Price Performance

NYSE SU opened at $39.22 on Thursday. Suncor Energy Inc. has a 12-month low of $31.25 and a 12-month high of $41.94. The firm’s 50 day moving average is $38.11 and its 200-day moving average is $38.53. The company has a market capitalization of $48.81 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 3.35 and a beta of 1.12. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.17%. Suncor Energy’s dividend payout ratio is 35.08%.

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.