Great Lakes Advisors LLC Invests $19.33 Million in Suncor Energy Inc. $SU

Great Lakes Advisors LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 360,110 shares of the oil and gas producer’s stock, valued at approximately $19,331,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SU. Oxbow Advisors LLC purchased a new position in Suncor Energy during the 2nd quarter valued at about $5,785,000. Foster & Motley Inc. purchased a new stake in Suncor Energy during the second quarter worth about $1,767,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Suncor Energy during the second quarter worth about $447,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Suncor Energy during the second quarter worth about $3,961,000. Finally, BlackRock Inc. acquired a new stake in shares of Suncor Energy during the second quarter worth about $124,096,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

SU has been the subject of several recent research reports. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Price Performance

SU stock opened at $67.75 on Wednesday. The business’s 50-day moving average is $60.65 and its two-hundred day moving average is $61.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The firm has a market capitalization of $79.99 billion, a P/E ratio of 12.48, a P/E/G ratio of 0.49 and a beta of 0.29. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping 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 business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, September 4th. 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.