Sumitomo Mitsui DS Asset Management Company Ltd Has $1.39 Million Position in Suncor Energy Inc. (NYSE:SU)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,609 shares of the oil and gas producer’s stock after purchasing an additional 917 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Suncor Energy were worth $1,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Fisher Asset Management LLC raised its position in shares of Suncor Energy by 38.4% in the 4th quarter. Fisher Asset Management LLC now owns 7,479 shares of the oil and gas producer’s stock valued at $240,000 after buying an additional 2,076 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Suncor Energy by 6.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 83,731 shares of the oil and gas producer’s stock valued at $3,091,000 after buying an additional 5,082 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Suncor Energy in the 1st quarter valued at approximately $230,000. Independence Bank of Kentucky increased its position in 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 worth $186,000 after purchasing an additional 315 shares in the last quarter. Finally, First Bank & Trust increased its position in Suncor Energy by 8.7% during the 1st quarter. First Bank & Trust now owns 8,267 shares of the oil and gas producer’s stock worth $305,000 after purchasing an additional 662 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Up 0.5 %

SU opened at $39.16 on Wednesday. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week 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 capitalization of $49.41 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.63 and a beta of 1.12. The company’s 50 day moving average price is $38.96 and its two-hundred day moving average price is $38.74.

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, topping 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 in the previous year, the firm posted $0.71 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Scotiabank lowered their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. 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, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the 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.