BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 2,044,680 Shares of Suncor Energy Inc. (NYSE:SU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 500.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,453,314 shares of the oil and gas producer’s stock after purchasing an additional 2,044,680 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.20% of Suncor Energy worth $87,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Suncor Energy by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after acquiring an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Suncor Energy by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after acquiring an additional 169,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Suncor Energy by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after acquiring an additional 209,447 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Suncor Energy by 3.0% in the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock worth $680,847,000 after purchasing an additional 552,018 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Suncor Energy by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer’s stock worth $391,809,000 after purchasing an additional 445,613 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

SU has been the subject of a number of research analyst reports. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Scotiabank raised Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

Suncor Energy Price Performance

NYSE:SU opened at $35.22 on Wednesday. The firm has a market capitalization of $43.43 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.95. The stock has a fifty day moving average of $35.66 and a 200 day moving average of $37.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same quarter last year, the company earned $1.41 earnings per share. On average, research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.65 annualized dividend and a yield of 4.69%. Suncor Energy’s dividend payout ratio (DPR) is currently 45.53%.

About Suncor Energy

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.