Y Intercept Hong Kong Ltd Buys 170,496 Shares of Suncor Energy Inc. $SU

Y Intercept Hong Kong Ltd boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 214.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,028 shares of the oil and gas producer’s stock after purchasing an additional 170,496 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Suncor Energy were worth $9,364,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SU. Shell Asset Management Co. boosted its holdings in shares of Suncor Energy by 65.8% during the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock worth $3,854,000 after buying an additional 40,892 shares during the period. Focus Partners Wealth boosted its holdings in Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock valued at $30,859,000 after acquiring an additional 10,514 shares during the period. Principal Financial Group Inc. boosted its holdings in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after acquiring an additional 6,311,513 shares during the period. Canoe Financial LP bought a new stake in Suncor Energy during the second quarter valued at about $9,653,000. Finally, Bank of New York Mellon Corp boosted its holdings in Suncor Energy by 13.3% during the first quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer’s stock valued at $135,228,000 after acquiring an additional 409,032 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a research note on Friday. Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Wells Fargo & Company initiated coverage on Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy Stock Up 0.5%

Shares of SU stock opened at $39.80 on Monday. The stock has a market cap of $48.12 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 3.51 and a beta of 0.78. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $43.48. The stock has a fifty day moving average price of $40.71 and a 200 day moving average price of $38.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period last year, the business earned $1.27 earnings per share. Analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 51.08%.

Suncor Energy Company 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.