Allspring Global Investments Holdings LLC Purchases 13,709 Shares of Suncor Energy Inc. (NYSE:SU)

Allspring Global Investments Holdings LLC grew its position in Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) by 82.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,249 shares of the oil and gas producer’s stock after purchasing an additional 13,709 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Suncor Energy were worth $850,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mirabella Financial Services LLP bought a new position in Suncor Energy during the third quarter worth $251,000. Truist Financial Corp boosted its stake in Suncor Energy by 20.3% during the third quarter. Truist Financial Corp now owns 63,710 shares of the oil and gas producer’s stock worth $1,794,000 after acquiring an additional 10,752 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its stake in Suncor Energy by 5.1% during the third quarter. Desjardins Global Asset Management Inc. now owns 46,523 shares of the oil and gas producer’s stock worth $1,317,000 after acquiring an additional 2,270 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in Suncor Energy during the third quarter worth $117,000. Finally, Janney Montgomery Scott LLC boosted its stake in Suncor Energy by 25.6% during the third quarter. Janney Montgomery Scott LLC now owns 49,182 shares of the oil and gas producer’s stock worth $1,385,000 after acquiring an additional 10,022 shares in the last quarter. 58.04% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Suncor Energy stock opened at $33.03 on Monday. Suncor Energy Inc. has a 12 month low of $25.27 and a 12 month high of $42.72. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $32.28 and its 200 day simple moving average is $32.16. The company has a market cap of $44.18 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 0.60 and a beta of 1.25.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last posted its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.44 EPS for the quarter, beating the consensus estimate of $1.40 by $0.04. Suncor Energy had a return on equity of 27.23% and a net margin of 14.23%. The business had revenue of $11.54 billion for the quarter, compared to the consensus estimate of $9.74 billion. Sell-side analysts forecast that Suncor Energy Inc. will post 5.66 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd were issued a dividend of $0.3911 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, December 1st. This represents a $1.56 dividend on an annualized basis and a yield of 4.74%. Suncor Energy’s payout ratio is presently 35.55%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. National Bank Financial increased their target price on shares of Suncor Energy from C$54.00 to C$57.00 in a research note on Wednesday, January 11th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Royal Bank of Canada dropped their price objective on shares of Suncor Energy from C$55.00 to C$54.00 in a research note on Wednesday, November 30th. Scotiabank dropped their price objective on shares of Suncor Energy from C$53.00 to C$50.00 in a research note on Tuesday, January 17th. Finally, Wells Fargo & Company lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 10th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of “Hold” and an average price target of $51.33.

Suncor Energy Company Profile

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Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration and Production; and Refining and Marketing.

See Also

Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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