International Assets Investment Management LLC Buys New Holdings in Suncor Energy Inc. (NYSE:SU)

International Assets Investment Management LLC acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 73,161 shares of the oil and gas producer’s stock, valued at approximately $2,701,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SU. Toronto Dominion Bank raised 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 worth $649,872,000 after purchasing an additional 6,580,260 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Suncor Energy by 90.9% during the second 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 purchasing an additional 3,951,287 shares in the last quarter. National Bank of Canada FI raised its holdings in Suncor Energy by 60.7% during the second 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 purchasing an additional 3,272,896 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Suncor Energy by 305.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock worth $63,687,000 after purchasing an additional 1,300,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Suncor Energy by 5.1% during the second 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 purchasing an additional 1,209,073 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $37.59 on Friday. The firm’s fifty day moving average price is $38.54 and its 200 day moving average price is $38.74. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. 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 cap of $47.43 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same period last year, the firm posted $0.71 EPS. Suncor Energy’s quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.20%. Suncor Energy’s dividend payout ratio (DPR) is 37.59%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. 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. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.