Suncor Energy Inc. $SU Position Increased by PDS Planning Inc

PDS Planning Inc boosted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 19.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,542 shares of the oil and gas producer’s stock after purchasing an additional 1,053 shares during the period. PDS Planning Inc’s holdings in Suncor Energy were worth $245,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after purchasing an additional 12,318,559 shares in the last quarter. Principal Financial Group Inc. raised its position in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after acquiring an additional 6,311,513 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock valued at $481,135,000 after acquiring an additional 5,658,880 shares in the last quarter. Nuveen LLC acquired a new stake in Suncor Energy in the first quarter valued at approximately $126,048,000. Finally, Mackenzie Financial Corp grew its position in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after acquiring an additional 2,410,857 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

SU opened at $39.53 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $40.70 and its two-hundred day moving average price is $38.25. The firm has a market capitalization of $47.79 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 3.20 and a beta of 0.78. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the prior year, the business earned $1.27 earnings per share. On average, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a dividend of $0.4135 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a yield of 4.2%. The ex-dividend date was Thursday, September 4th. Suncor Energy’s dividend payout ratio is presently 50.77%.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.