MFF Capital Investments Ltd Buys 46,000 Shares of Suncor Energy Inc. $SU

MFF Capital Investments Ltd bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 46,000 shares of the oil and gas producer’s stock, valued at approximately $3,122,000. Suncor Energy comprises about 0.2% of MFF Capital Investments Ltd’s holdings, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HighTower Advisors LLC increased its position in shares of Suncor Energy by 255.0% during the second quarter. HighTower Advisors LLC now owns 78,316 shares of the oil and gas producer’s stock worth $4,204,000 after purchasing an additional 56,254 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock valued at $833,622,000 after purchasing an additional 411,243 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Suncor Energy by 6.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock valued at $55,802,000 after purchasing an additional 50,502 shares during the period. Bank of America Corp DE acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at about $351,892,000. Finally, TD Waterhouse Canada Inc. grew its stake in Suncor Energy by 2.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after buying an additional 239,208 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SU. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a report on Wednesday, August 19th. Finally, Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $81.71.

Suncor Energy Stock Performance

NYSE SU opened at $67.73 on Wednesday. The stock has a market capitalization of $78.47 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.22 and a beta of 0.22. The business’s 50 day moving average is $71.66 and its two-hundred day moving average is $64.02. Suncor Energy Inc. has a 12-month low of $42.09 and a 12-month high of $80.25. The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.49. Suncor Energy had a net margin of 17.49% and a return on equity of 25.55%. The business had revenue of $13.26 billion for the quarter, compared to analysts’ expectations of $11.85 billion. During the same period in the prior year, the company posted $1.48 EPS. Research analysts expect that Suncor Energy Inc. will post 9.30 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 3rd will be paid a dividend of C$0.66 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of C$0.60. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio is presently 27.65%.

About Suncor Energy

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.