GQG Partners LLC Acquires Shares of 2,293,204 Suncor Energy Inc. $SU

GQG Partners LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,293,204 shares of the oil and gas producer’s stock, valued at approximately $123,328,000. GQG Partners LLC owned about 0.19% of Suncor Energy as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Versant Capital Management Inc raised its holdings in Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth approximately $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $32,000. Accent Capital Management LLC grew its position in shares of Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SU shares. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research report on Wednesday. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Stock Performance

Shares of SU stock opened at $68.46 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The firm has a market cap of $80.83 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.49 and a beta of 0.30. The firm’s 50 day moving average price is $61.02 and its 200-day moving average price is $61.61. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The company had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. As a group, equities research analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy’s payout ratio is 32.04%.

Suncor Energy 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.