Suncor Energy Inc. $SU Stock Position Boosted by Walter Public Investments Inc.

Walter Public Investments Inc. increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 113.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,224 shares of the oil and gas producer’s stock after purchasing an additional 34,731 shares during the period. Walter Public Investments Inc.’s holdings in Suncor Energy were worth $4,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SU. MFF Capital Investments Ltd bought a new position in Suncor Energy in the third quarter valued at approximately $3,122,000. AlphaCore Capital LLC bought a new stake in shares of Suncor Energy during the third quarter worth $731,000. Candriam S.C.A. increased its position in shares of Suncor Energy by 18.9% during the third quarter. Candriam S.C.A. now owns 17,948 shares of the oil and gas producer’s stock worth $1,224,000 after acquiring an additional 2,849 shares in the last quarter. Ethic Inc. bought a new stake in shares of Suncor Energy during the third quarter worth $334,000. Finally, Parallel Advisors LLC raised its holdings in shares of Suncor Energy by 15.9% during the third quarter. Parallel Advisors LLC now owns 11,214 shares of the oil and gas producer’s stock worth $761,000 after acquiring an additional 1,538 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SU has been the topic of a number of research analyst reports. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $81.71.

Suncor Energy Trading Up 1.8%

NYSE SU opened at $68.96 on Thursday. The stock has a market capitalization of $79.89 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 0.22 and a beta of 0.22. The stock’s 50 day moving average price is $71.66 and its two-hundred day moving average price is $64.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.27 and a current ratio of 1.71. Suncor Energy Inc. has a 52 week low of $42.09 and a 52 week high of $80.25.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.49. The firm had revenue of $13.26 billion during the quarter, compared to the consensus estimate of $11.85 billion. Suncor Energy had a return on equity of 25.55% and a net margin of 17.49%. During the same quarter in the prior year, the firm posted $1.48 EPS. As a group, analysts anticipate that Suncor Energy Inc. will post 9.30 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 3rd will be given a C$0.66 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, December 3rd. Suncor Energy’s payout ratio is presently 25.44%.

Suncor Energy Company Profile

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.