Maryland State Retirement & Pension System Increases Stock Position in Suncor Energy Inc. $SU

Maryland State Retirement & Pension System increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 333,019 shares of the oil and gas producer’s stock after purchasing an additional 13,400 shares during the period. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $13,932,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Richardson Financial Services Inc. grew its holdings in shares of Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 465 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the second quarter worth $31,000. Maseco LLP purchased a new position in Suncor Energy in the 2nd quarter valued at $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Suncor Energy in the 2nd quarter valued at $37,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $49.73 on Friday. 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 business’s fifty day moving average price is $44.62 and its two-hundred day moving average price is $41.70. The stock has a market cap of $59.35 billion, a PE ratio of 16.30 and a beta of 0.46. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $50.24.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the business posted $1.48 EPS. On average, analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is presently 56.07%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SU shares. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, January 2nd. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Finally, Wells Fargo & Company started coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $56.50.

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.