Advisors Asset Management Inc. Has $1.71 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Advisors Asset Management Inc. grew its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 46,229 shares of the oil and gas producer’s stock after acquiring an additional 4,193 shares during the quarter. Advisors Asset Management Inc.’s holdings in Suncor Energy were worth $1,707,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position 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 valued at $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after acquiring an additional 366,432 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Suncor Energy by 3.4% in the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock worth $693,906,000 after acquiring an additional 605,833 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after purchasing an additional 180,533 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU stock opened at $41.53 on Monday. The stock has a market capitalization of $52.25 billion, a PE ratio of 9.05, a PEG ratio of 2.72 and a beta of 1.12. The business’s 50 day simple moving average is $38.86 and its 200 day simple moving average is $38.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a yield of 3.94%. Suncor Energy’s payout ratio is presently 35.29%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SU shares. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.40.

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.