Susquehanna Fundamental Investments LLC Makes New $7 Million Investment in Suncor Energy Inc. (NYSE:SU)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 183,600 shares of the oil and gas producer’s stock, valued at approximately $6,995,000.

A number of other institutional investors have also made changes to their positions in SU. Toronto Dominion Bank grew its holdings in Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after purchasing an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after buying an additional 3,951,287 shares during the period. National Bank of Canada FI boosted its holdings in shares of Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after buying an additional 3,272,896 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Suncor Energy by 305.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after buying an additional 1,300,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after acquiring an additional 1,209,073 shares during the period. 67.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Wolfe Research started coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Stock Performance

SU opened at $36.80 on Friday. The stock’s 50 day simple moving average is $38.76 and its 200-day simple moving average is $38.45. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock has a market cap of $46.75 billion, a PE ratio of 8.20, a P/E/G ratio of 2.57 and a beta of 1.13. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is 36.08%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.