BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Suncor Energy Inc. (NYSE:SU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 184.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,773 shares of the oil and gas producer’s stock after buying an additional 116,482 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Suncor Energy were worth $6,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new stake in shares of Suncor Energy in the fourth quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in shares of Suncor Energy in the second quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at about $27,000. Ridgewood Investments LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at about $29,000. Finally, Adirondack Trust Co. grew its position in shares of Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $36.50 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 2.55 and a beta of 1.13. The company’s 50-day moving average is $38.84 and its two-hundred day moving average is $38.42. 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 posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.51. The company 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%. Suncor Energy’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Analysts forecast that Suncor Energy Inc. will post 3.71 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.33%. Suncor Energy’s payout ratio is 35.86%.

Analysts Set New Price Targets

SU has been the topic of several research analyst reports. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Wolfe Research started coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target on the stock. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, Scotiabank lowered their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.