Gluskin Sheff & Assoc Inc. decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 16.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 821,472 shares of the oil and gas producer’s stock after selling 164,874 shares during the period. Gluskin Sheff & Assoc Inc. owned about 0.05% of Suncor Energy worth $31,786,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SU. Sanders Capital LLC bought a new position in shares of Suncor Energy in the second quarter worth approximately $525,087,000. Bank of New York Mellon Corp grew its holdings in shares of Suncor Energy by 19,812.9% in the third quarter. Bank of New York Mellon Corp now owns 8,430,116 shares of the oil and gas producer’s stock worth $326,160,000 after purchasing an additional 8,387,781 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of Suncor Energy by 277.0% in the second quarter. Fiera Capital Corp now owns 4,592,696 shares of the oil and gas producer’s stock worth $186,923,000 after purchasing an additional 3,374,469 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Suncor Energy by 17.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,966,446 shares of the oil and gas producer’s stock worth $812,045,000 after purchasing an additional 2,911,304 shares during the last quarter. Finally, Waddell & Reed Financial Inc. grew its holdings in shares of Suncor Energy by 203.0% in the second quarter. Waddell & Reed Financial Inc. now owns 4,284,540 shares of the oil and gas producer’s stock worth $174,295,000 after purchasing an additional 2,870,436 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.
Several research analysts have recently issued reports on SU shares. Mizuho started coverage on shares of Suncor Energy in a report on Monday, July 23rd. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, July 24th. ValuEngine cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. JPMorgan Chase & Co. cut shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 11th. Finally, CIBC initiated coverage on shares of Suncor Energy in a report on Friday, October 5th. They issued a “sector outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.00.
Shares of SU stock opened at $32.79 on Tuesday. Suncor Energy Inc. has a 52 week low of $31.33 and a 52 week high of $42.55. The firm has a market capitalization of $53.70 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. The company has a quick ratio of 0.59, a current ratio of 0.93 and a debt-to-equity ratio of 0.29.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Suncor Energy had a return on equity of 11.11% and a net margin of 12.66%. The company had revenue of $8.31 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts anticipate that Suncor Energy Inc. will post 2.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 3rd will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, November 30th. Suncor Energy’s payout ratio is 72.85%.
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Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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