AustralianSuper Pty Ltd Has $7.40 Million Position in Suncor Energy Inc. (NYSE:SU)

by · The Markets Daily

AustralianSuper Pty Ltd decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 36.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,619 shares of the oil and gas producer’s stock after selling 113,195 shares during the period. AustralianSuper Pty Ltd’s holdings in Suncor Energy were worth $7,404,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in Suncor Energy in the second quarter valued at approximately $26,000. Eastern Bank purchased a new stake in Suncor Energy in the 3rd quarter worth about $25,000. Summit Securities Group LLC bought a new stake in Suncor Energy in the 2nd quarter valued at about $27,000. Richardson Financial Services Inc. lifted its holdings in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Suncor Energy during the second quarter worth about $29,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.8 %

Shares of NYSE SU opened at $37.77 on Friday. The stock has a market capitalization of $47.66 billion, a P/E ratio of 8.76, a PEG ratio of 2.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The firm’s 50 day simple moving average is $38.60 and its two-hundred day simple moving average is $38.73.

Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.18%. Suncor Energy’s dividend payout ratio (DPR) is currently 37.35%.

Analysts Set New Price Targets

Several research analysts recently commented on SU shares. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Scotiabank decreased their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

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Suncor Energy Profile

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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.

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