OneDigital Investment Advisors LLC Increases Stake in Suncor Energy Inc. (NYSE:SU)

OneDigital Investment Advisors LLC grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 137.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,611 shares of the oil and gas producer’s stock after buying an additional 15,991 shares during the period. OneDigital Investment Advisors LLC’s holdings in Suncor Energy were worth $1,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in shares of 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 valued at $649,872,000 after buying an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Suncor Energy by 60.7% in 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 acquiring an additional 3,272,896 shares during the period. Principal Financial Group Inc. lifted its position in Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Suncor Energy by 5.1% in 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 during the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SU. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Up 0.8 %

NYSE SU opened at $40.81 on Tuesday. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $51.49 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12. The stock’s 50-day moving average price is $38.47 and its 200-day moving average price is $38.79.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.01%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Suncor Energy Company 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.