Toronto Dominion Bank Boosts Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Toronto Dominion Bank increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,212,767 shares of the oil and gas producer’s stock after acquiring an additional 605,833 shares during the period. Suncor Energy comprises approximately 1.1% of Toronto Dominion Bank’s holdings, making the stock its 16th largest position. Toronto Dominion Bank’s holdings in Suncor Energy were worth $693,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SU. Trust Co. of Vermont bought a new position in Suncor Energy during the second quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the second quarter worth $27,000. Richardson Financial Services Inc. increased its position in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the last quarter. Ridgewood Investments LLC bought a new position in Suncor Energy in the second quarter valued at about $29,000. Finally, Johnson Financial Group Inc. purchased a new position in Suncor Energy in the fourth quarter worth about $25,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

NYSE:SU opened at $38.19 on Wednesday. The business’s 50-day simple moving average is $38.87 and its two-hundred day simple moving average is $38.43. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The stock has a market cap of $48.52 billion, a PE ratio of 8.51, a P/E/G ratio of 2.55 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

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, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter last year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts forecast that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.14%. Suncor Energy’s dividend payout ratio is 36.08%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Raymond James upgraded Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research started coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $55.83.

About Suncor Energy

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.