Ontario Teachers Pension Plan Board acquired a new position in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,048 shares of the oil and gas producer’s stock, valued at approximately $219,000.
A number of other large investors also recently added to or reduced their stakes in SU. Prelude Capital Management LLC lifted its holdings in Suncor Energy by 10.2% in the first quarter. Prelude Capital Management LLC now owns 18,219 shares of the oil and gas producer’s stock valued at $566,000 after buying an additional 1,680 shares during the period. Toroso Investments LLC lifted its stake in shares of Suncor Energy by 133.3% in the 1st quarter. Toroso Investments LLC now owns 19,263 shares of the oil and gas producer’s stock valued at $598,000 after purchasing an additional 11,005 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Suncor Energy by 2.6% in the 1st quarter. Ameriprise Financial Inc. now owns 90,419 shares of the oil and gas producer’s stock worth $3,297,000 after purchasing an additional 2,312 shares during the last quarter. Power Corp of Canada grew its stake in shares of Suncor Energy by 102.5% during the first quarter. Power Corp of Canada now owns 25,106 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 12,706 shares during the period. Finally, Harvest Portfolios Group Inc. bought a new stake in Suncor Energy in the first quarter valued at about $3,765,000. 60.25% of the stock is currently owned by institutional investors and hedge funds.
Suncor Energy Stock Up 1.0 %
Suncor Energy stock opened at $35.09 on Monday. The company has a 50 day moving average of $31.85 and a 200-day moving average of $30.82. The company has a quick ratio of 0.76, a current ratio of 1.18 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a twelve month low of $26.42 and a twelve month high of $37.23. The stock has a market capitalization of $45.65 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.82 and a beta of 1.27.
Suncor Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.393 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Thursday, August 31st. Suncor Energy’s dividend payout ratio (DPR) is currently 45.70%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Wells Fargo & Company raised Suncor Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $44.00 to $54.00 in a research note on Wednesday, August 23rd. UBS Group began coverage on shares of Suncor Energy in a research report on Wednesday, July 12th. They set a “buy” rating on the stock. BMO Capital Markets cut shares of Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 13th. Finally, StockNews.com began coverage on Suncor Energy in a report on Thursday, August 17th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.67.
Suncor Energy Company Profile
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.
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