CWA Asset Management Group LLC Buys 3,195 Shares of Suncor Energy Inc. (NYSE:SU)

CWA Asset Management Group LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,008 shares of the oil and gas producer’s stock after purchasing an additional 3,195 shares during the quarter. CWA Asset Management Group LLC’s holdings in Suncor Energy were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PKO Investment Management Joint Stock Co raised its holdings in Suncor Energy by 6.0% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 44,500 shares of the oil and gas producer’s stock worth $1,728,000 after purchasing an additional 2,500 shares during the last quarter. Medici Capital LLC acquired a new stake in shares of Suncor Energy during the 1st quarter worth approximately $1,158,000. Inscription Capital LLC bought a new stake in shares of Suncor Energy during the first quarter worth approximately $247,000. Sagespring Wealth Partners LLC lifted its holdings in Suncor Energy by 5.8% in the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock valued at $235,000 after buying an additional 332 shares during the period. Finally, Sowell Financial Services LLC bought a new position in Suncor Energy in the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $40.00 on Friday. The stock’s fifty day simple moving average is $36.09 and its 200 day simple moving average is $36.95. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $48.90 billion, a PE ratio of 11.53, a PEG ratio of 3.48 and a beta of 0.79. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The company had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same quarter last year, the firm posted $1.41 earnings per share. On average, research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a $0.4133 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Wednesday, June 4th. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is 47.84%.

Wall Street Analyst Weigh In

Several brokerages have commented on SU. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Scotiabank raised Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.67.

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.