Suncor Energy Inc. (NYSE:SU) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 286.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,604 shares of the oil and gas producer’s stock after purchasing an additional 222,170 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Suncor Energy were worth $11,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SU. Cullen Investment Group LTD. lifted its stake in shares of Suncor Energy by 0.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after acquiring an additional 262 shares during the period. First Horizon Advisors Inc. boosted its stake in Suncor Energy by 6.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after purchasing an additional 281 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of Suncor Energy by 6.7% during the 1st quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after purchasing an additional 315 shares during the period. Blue Trust Inc. raised its stake in shares of Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after buying an additional 325 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SU shares. 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. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. Scotiabank reduced their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $38.97 on Friday. The company’s fifty day moving average is $38.85 and its two-hundred day moving average is $38.74. The company has a market cap of $49.93 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 2.78 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. 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 posted its quarterly 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. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. Suncor Energy’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts expect that Suncor Energy Inc. will post 3.53 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 35.86%.

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.