Principal Financial Group Inc. Has $789.21 Million Stock Holdings in Suncor Energy Inc. $SU

Principal Financial Group Inc. lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,854,921 shares of the oil and gas producer’s stock after purchasing an additional 106,765 shares during the quarter. Principal Financial Group Inc. owned 1.56% of Suncor Energy worth $789,213,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. AQR Capital Management LLC raised its stake in Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after buying an additional 3,115 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Suncor Energy by 172.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Suncor Energy by 3.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 36,328 shares of the oil and gas producer’s stock valued at $1,360,000 after purchasing an additional 1,076 shares in the last quarter. Truist Financial Corp grew its position in shares of Suncor Energy by 1.8% in the 2nd quarter. Truist Financial Corp now owns 51,441 shares of the oil and gas producer’s stock valued at $1,926,000 after purchasing an additional 886 shares during the period. Finally, Hilltop National Bank bought a new stake in Suncor Energy during the 2nd quarter worth approximately $206,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.4%

SU stock opened at $52.96 on Friday. The company has a market cap of $63.21 billion, a price-to-earnings ratio of 17.36 and a beta of 0.46. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $54.80. The business has a 50 day moving average price of $46.02 and a two-hundred day moving average price of $42.56. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. Analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were given 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 was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.5%. Suncor Energy’s payout ratio is 56.39%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SU shares. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group increased their target price on Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Wells Fargo & Company assumed coverage on Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.67.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.