Allspring Global Investments Holdings LLC Buys 72,824 Shares of Suncor Energy Inc. $SU

Allspring Global Investments Holdings LLC raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 496,768 shares of the oil and gas producer’s stock after acquiring an additional 72,824 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Suncor Energy were worth $18,793,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. GAMMA Investing LLC grew its position in Suncor Energy by 2,380.2% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the oil and gas producer’s stock worth $232,000 after buying an additional 5,760 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Suncor Energy by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 255,758 shares of the oil and gas producer’s stock worth $9,903,000 after acquiring an additional 5,888 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Suncor Energy during the 1st quarter worth approximately $230,000. Sagespring Wealth Partners LLC increased its position in shares of Suncor Energy by 5.8% during the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock valued at $235,000 after purchasing an additional 332 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Suncor Energy by 15.4% in the first quarter. CWA Asset Management Group LLC now owns 24,008 shares of the oil and gas producer’s stock valued at $930,000 after purchasing an additional 3,195 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Down 0.1%

Shares of Suncor Energy stock opened at $38.54 on Friday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The stock has a market capitalization of $46.60 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. The company has a 50-day simple moving average of $40.70 and a 200 day simple moving average of $38.27. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

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

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were given a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 4.3%. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is presently 51.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SU shares. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a report on Friday. They issued an “equal weight” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Suncor Energy has an average 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.