Ninepoint Partners LP Has $56.15 Million Position in Suncor Energy Inc. (NYSE:SU)

Ninepoint Partners LP lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2,030.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,573,648 shares of the oil and gas producer’s stock after buying an additional 1,499,779 shares during the quarter. Suncor Energy comprises approximately 8.2% of Ninepoint Partners LP’s investment portfolio, making the stock its 4th largest position. Ninepoint Partners LP’s holdings in Suncor Energy were worth $56,148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC increased its position in shares of Suncor Energy by 32.3% during the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after acquiring an additional 20,081 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after acquiring an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC bought a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $300,000. Intech Investment Management LLC increased its position in shares of Suncor Energy by 1,345.8% during the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after acquiring an additional 436,016 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $236,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 2.3 %

Shares of Suncor Energy stock opened at $36.63 on Friday. The company’s fifty day simple moving average is $38.29 and its 200-day simple moving average is $38.24. The stock has a market capitalization of $45.32 billion, a PE ratio of 10.62, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 1-year low of $33.81 and a 1-year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SU shares. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating for the company. Finally, StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday. Five 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.