Legal & General Group Plc Takes Position in Suncor Energy Inc. $SU

Legal & General Group Plc bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, Holdings Channel reports. The institutional investor bought 3,715,798 shares of the oil and gas producer’s stock, valued at approximately $199,834,000.

Several other institutional investors have also recently made changes to their positions in SU. Versant Capital Management Inc boosted its stake in Suncor Energy by 418.9% during the second 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. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the 4th quarter worth $32,000. Accent Capital Management LLC lifted its position in 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 valued at $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Suncor Energy in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

SU has been the topic of several research reports. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. 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 report on Friday, June 5th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Stock Up 0.5%

Suncor Energy stock opened at $65.66 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The firm has a market capitalization of $77.53 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.47 and a beta of 0.30. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The stock’s fifty day moving average is $61.50 and its two-hundred day moving average is $61.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

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

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.