Flputnam Investment Management Co. Takes Position in Suncor Energy Inc. $SU

Flputnam Investment Management Co. purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 216,276 shares of the oil and gas producer’s stock, valued at approximately $11,610,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intact Investment Management Inc. grew its holdings in Suncor Energy by 36.3% during the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after purchasing an additional 451,110 shares during the period. Harvest Portfolios Group Inc. raised its holdings in Suncor Energy by 9.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock worth $16,008,000 after purchasing an additional 30,210 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Suncor Energy by 6.3% during the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock worth $55,802,000 after purchasing an additional 50,502 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Suncor Energy by 3.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 431,007 shares of the oil and gas producer’s stock valued at $19,155,000 after buying an additional 15,332 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 1.4%

SU opened at $65.50 on Friday. The stock has a market capitalization of $77.34 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.47 and a beta of 0.30. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The firm’s fifty day simple moving average is $61.93 and its 200 day simple moving average is $62.06.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same quarter last year, the business posted $0.71 EPS. As a group, research analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Suncor Energy’s dividend payout ratio (DPR) is presently 32.04%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SU. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Friday, June 5th. Finally, Scotiabank raised Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Company Profile

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.