AGF Management Ltd. Has $104.11 Million Stake in Suncor Energy Inc. $SU

AGF Management Ltd. lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 30.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,490,106 shares of the oil and gas producer’s stock after selling 1,078,842 shares during the quarter. AGF Management Ltd.’s holdings in Suncor Energy were worth $104,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SU. Jones Financial Companies Lllp boosted its stake in Suncor Energy by 12.5% in the third quarter. Jones Financial Companies Lllp now owns 105,834 shares of the oil and gas producer’s stock worth $4,509,000 after purchasing an additional 11,777 shares in the last quarter. Mediolanum International Funds Ltd increased its position in Suncor Energy by 5.5% in the third quarter. Mediolanum International Funds Ltd now owns 423,232 shares of the oil and gas producer’s stock worth $17,774,000 after purchasing an additional 21,988 shares during the period. Principal Financial Group Inc. grew its position in shares of Suncor Energy by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after buying an additional 106,765 shares during the period. Ruffer LLP grew its holdings in Suncor Energy by 0.6% during the 3rd quarter. Ruffer LLP now owns 935,037 shares of the oil and gas producer’s stock worth $39,134,000 after acquiring an additional 5,780 shares during the period. Finally, Financial Security Advisor Inc. bought a new position in shares of Suncor Energy in the 3rd quarter worth $209,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

NYSE:SU opened at $52.96 on Monday. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $54.80. The stock has a fifty day moving average price of $46.02 and a 200-day moving average price of $42.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The company has a market cap of $63.21 billion, a price-to-earnings ratio of 17.36 and a beta of 0.45.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the business earned $1.48 earnings per share. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.5%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 56.39%.

Analyst Upgrades and Downgrades

SU has been the topic of several analyst reports. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company began coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, The Goldman Sachs Group increased their price target on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.67.

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.