Canada Pension Plan Investment Board Acquires New Holdings in Suncor Energy Inc. $SU

Canada Pension Plan Investment Board bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,685,671 shares of the oil and gas producer’s stock, valued at approximately $466,810,000. Canada Pension Plan Investment Board owned approximately 0.74% of Suncor Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of SU. Versant Capital Management Inc raised its stake in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares during the period. 1 North Wealth Services LLC bought a new position in Suncor Energy during the fourth quarter worth about $32,000. Cassaday & Co Wealth Management LLC acquired a new position in Suncor Energy in the first quarter valued at about $53,000. Headlands Technologies LLC acquired a new position in Suncor Energy in the second quarter valued at about $31,000. Finally, Accent Capital Management LLC increased its holdings 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 worth $37,000 after acquiring an additional 225 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

NYSE SU opened at $65.38 on Wednesday. The firm’s 50 day moving average is $61.32 and its 200-day moving average is $61.86. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $77.20 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month 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 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the prior year, the company posted $0.71 earnings per share. Equities research analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is currently 32.04%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Company 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.