Blue Trust Inc. Boosts Stock Position in Suncor Energy Inc. (NYSE:SU)

Blue Trust Inc. raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 56.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,120 shares of the oil and gas producer’s stock after buying an additional 1,842 shares during the quarter. Blue Trust Inc.’s holdings in Suncor Energy were worth $195,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its holdings in shares of Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after buying an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after purchasing an additional 3,951,287 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after purchasing an additional 3,272,896 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Suncor Energy by 305.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after buying an additional 1,300,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after acquiring an additional 1,209,073 shares during the period. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SU. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Scotiabank cut their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $38.97 on Friday. The stock’s fifty day moving average is $38.85 and its 200 day moving average is $38.74. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a market cap of $49.93 billion, a P/E ratio of 8.68, a P/E/G ratio of 2.78 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.53 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.05%. Suncor Energy’s payout ratio is currently 35.86%.

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.