Suncor Energy Inc. $SU Stake Increased by Ninety One UK Ltd

Ninety One UK Ltd grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 29.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 851,994 shares of the oil and gas producer’s stock after acquiring an additional 195,952 shares during the quarter. Ninety One UK Ltd’s holdings in Suncor Energy were worth $57,910,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Valeo Financial Advisors LLC increased its stake in Suncor Energy by 1.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer’s stock worth $695,000 after purchasing an additional 166 shares in the last quarter. Formidable Asset Management LLC lifted its stake in Suncor Energy by 1.1% during the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after buying an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its stake in Suncor Energy by 0.8% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after buying an additional 190 shares in the last quarter. DGS Capital Management LLC lifted its stake in Suncor Energy by 3.2% during the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock valued at $273,000 after buying an additional 193 shares in the last quarter. Finally, Sage Investment Counsel LLC boosted its holdings in shares of Suncor Energy by 2.4% in the first quarter. Sage Investment Counsel LLC now owns 8,600 shares of the oil and gas producer’s stock worth $569,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SU. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. 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. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research report on Wednesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $79.62.

Suncor Energy Stock Up 0.8%

Suncor Energy stock traded up $0.63 during trading hours on Thursday, hitting $76.52. The company had a trading volume of 1,386,844 shares, compared to its average volume of 4,628,298. The firm’s fifty day moving average is $67.93 and its 200-day moving average is $64.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $76.72. The firm has a market capitalization of $89.50 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 0.49 and a beta of 0.36.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The company had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. During the same period last year, the business earned $0.71 EPS. On average, research analysts forecast that Suncor Energy Inc. will post 8.12 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a C$0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. Suncor Energy’s dividend payout ratio is currently 31.86%.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.