MAI Capital Management raised its holdings in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 12.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,941 shares of the oil and gas producer’s stock after purchasing an additional 1,506 shares during the quarter. MAI Capital Management’s holdings in Suncor Energy were worth $433,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of Suncor Energy by 79.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock valued at $548,183,000 after purchasing an additional 7,438,559 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Suncor Energy during the 4th quarter worth about $166,982,000. Franklin Resources Inc. raised its holdings in Suncor Energy by 56.2% in the 4th quarter. Franklin Resources Inc. now owns 12,285,828 shares of the oil and gas producer’s stock worth $389,747,000 after purchasing an additional 4,418,507 shares during the period. Goldman Sachs Group Inc. boosted its position in Suncor Energy by 269.8% during the second quarter. Goldman Sachs Group Inc. now owns 5,393,014 shares of the oil and gas producer’s stock worth $189,133,000 after purchasing an additional 3,934,708 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Suncor Energy by 96.7% in the first quarter. Clearbridge Investments LLC now owns 6,266,297 shares of the oil and gas producer’s stock valued at $204,219,000 after purchasing an additional 3,080,290 shares during the period. 56.82% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
SU has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Suncor Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $44.00 to $54.00 in a report on Wednesday. BMO Capital Markets lowered Suncor Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 13th. UBS Group assumed coverage on Suncor Energy in a research report on Wednesday, July 12th. They issued a “buy” rating on the stock. National Bank Financial upgraded Suncor Energy from a “sector perform” rating to an “outperform” rating in a research report on Friday, April 28th. Finally, StockNews.com assumed coverage on Suncor Energy in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Suncor Energy has an average rating of “Hold” and a consensus price target of $53.67.
Suncor Energy Stock Performance
Shares of Suncor Energy stock opened at $32.83 on Thursday. The business’s 50 day moving average price is $30.24 and its 200 day moving average price is $30.79. The company has a market cap of $42.75 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 0.80 and a beta of 1.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.76 and a current ratio of 1.18. Suncor Energy Inc. has a one year low of $26.42 and a one year high of $37.23.
Suncor Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 1st will be given a dividend of $0.393 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 4.79%. Suncor Energy’s payout ratio is presently 45.40%.
About Suncor Energy
Suncor Energy Inc operates as an integrated energy company in Canada 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. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.
Featured Articles
- Five stocks we like better than Suncor Energy
- Market Cap Calculator: How to Calculate Market Cap
- Bear Market vs Recession: What Are the Differences?
- Which Wall Street Analysts are the Most Accurate?
- 7 Best AI Mutual Funds (and ETFs) to Sweep the AI Craze
- Business Services Stocks Investing
- Auto Parts Stocks Shift Gears: Which is the Right One to Buy?
Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.
