Bank of Nova Scotia Trust Co. Has $18.76 Million Stock Position in Suncor Energy Inc. $SU

Bank of Nova Scotia Trust Co. lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 500,924 shares of the oil and gas producer’s stock after selling 11,912 shares during the period. Suncor Energy makes up about 1.8% of Bank of Nova Scotia Trust Co.’s holdings, making the stock its 18th largest position. Bank of Nova Scotia Trust Co.’s holdings in Suncor Energy were worth $18,760,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC grew its position in Suncor Energy by 12,290.9% in the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after purchasing an additional 12,318,559 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after buying an additional 9,378,552 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock worth $481,135,000 after acquiring an additional 5,658,880 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Suncor Energy in the 1st quarter worth about $126,048,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Suncor Energy by 27.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,149,381 shares of the oil and gas producer’s stock worth $315,597,000 after acquiring an additional 1,763,146 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SU shares. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Tuesday. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Finally, Wells Fargo & Company started coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Trading Up 0.4%

Shares of Suncor Energy stock opened at $44.47 on Friday. The stock has a fifty day moving average price of $41.60 and a 200-day moving average price of $39.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The firm has a market cap of $53.44 billion, a PE ratio of 13.68, a P/E/G ratio of 3.52 and a beta of 0.75. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter last year, the company posted $1.48 earnings per share. Equities research analysts anticipate 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, December 24th. Investors of record on Wednesday, December 3rd will be issued a $0.60 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.4%. Suncor Energy’s payout ratio is presently 55.74%.

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.