Suncor Energy Inc. $SU Stock Purchased by Ninety One UK Ltd

Ninety One UK Ltd boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 29.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 851,994 shares of the oil and gas producer’s stock after purchasing an additional 195,952 shares during the period. Ninety One UK Ltd owned about 0.07% of Suncor Energy worth $57,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its position in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after acquiring an additional 14,304,131 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Suncor Energy in the second quarter valued at about $816,551,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Suncor Energy in the second quarter valued at about $790,952,000. Dimensional Fund Advisors LP increased its stake in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Suncor Energy by 2.1% during the second quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after purchasing an additional 239,208 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of NYSE:SU traded up $0.63 during midday trading on Thursday, hitting $76.52. The company’s stock had a trading volume of 1,386,844 shares, compared to its average volume of 4,628,298. The business’s 50 day simple moving average is $67.93 and its 200 day simple moving average is $64.63. 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 company has a market cap 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 Inc. has a 12-month low of $37.76 and a 12-month high of $76.72.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. The company 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 earned $0.71 EPS. On average, analysts forecast that Suncor Energy Inc. will post 8.12 EPS for the current year.

Suncor Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

SU has been the subject of several research analyst reports. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley set a $106.00 target price on Suncor Energy in a report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $79.62.

About Suncor Energy

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.