Virtus ETF Advisers LLC acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,970 shares of the oil and gas producer’s stock, valued at approximately $2,336,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. FIL Ltd grew its holdings in Suncor Energy by 4.4% during the first quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock valued at $1,437,901,000 after purchasing an additional 1,862,871 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Suncor Energy by 1.7% in the first quarter. TD Asset Management Inc. now owns 38,746,904 shares of the oil and gas producer’s stock worth $1,256,131,000 after acquiring an additional 630,678 shares during the period. Sanders Capital LLC boosted its holdings in shares of Suncor Energy by 6.8% in the second quarter. Sanders Capital LLC now owns 26,178,616 shares of the oil and gas producer’s stock worth $860,790,000 after acquiring an additional 1,662,000 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Suncor Energy by 1.7% in the first quarter. The Manufacturers Life Insurance Company now owns 15,714,832 shares of the oil and gas producer’s stock worth $509,632,000 after acquiring an additional 255,682 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Suncor Energy by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 15,269,163 shares of the oil and gas producer’s stock worth $493,469,000 after acquiring an additional 235,869 shares during the period. 65.34% of the stock is owned by institutional investors and hedge funds.
Shares of Suncor Energy stock traded down $0.30 during trading hours on Friday, reaching $30.38. The company had a trading volume of 212,416 shares, compared to its average volume of 3,129,008. Suncor Energy Inc. has a one year low of $25.81 and a one year high of $40.08. The business has a fifty day simple moving average of $28.82 and a 200 day simple moving average of $31.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.63. The firm has a market cap of $47.76 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.70 and a beta of 1.07.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.09). Suncor Energy had a return on equity of 10.20% and a net margin of 14.55%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $8.15 billion. On average, research analysts forecast that Suncor Energy Inc. will post 2.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a $0.321 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. Suncor Energy’s dividend payout ratio (DPR) is 63.00%.
A number of research firms have recently commented on SU. ValuEngine raised Suncor Energy from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a report on Monday, June 24th. Finally, Citigroup cut their price target on Suncor Energy from $59.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Suncor Energy currently has an average rating of “Buy” and a consensus target price of $48.23.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
Further Reading: Cost of Debt
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