MQS Management LLC Purchases New Stake in Suncor Energy Inc. (NYSE:SU)

MQS Management LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,215 shares of the oil and gas producer’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Johnson Financial Group Inc. acquired a new position in Suncor Energy in the fourth quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont bought a new stake in shares of Suncor Energy during the 2nd quarter worth $26,000. Summit Securities Group LLC bought a new stake in Suncor Energy in the second quarter worth about $27,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $29,000. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on SU. The Goldman Sachs Group boosted their price objective on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Scotiabank cut their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Wolfe Research started coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Price Performance

SU stock opened at $36.98 on Thursday. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. 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 $46.98 billion, a PE ratio of 8.24, a P/E/G ratio of 2.47 and a beta of 1.13. The company has a 50-day moving average price of $38.93 and a 200 day moving average price of $38.32.

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

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.27%. Suncor Energy’s payout ratio is presently 36.08%.

Suncor Energy Company 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.