Suncor Energy Inc. $SU Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,911,602 shares of the oil and gas producer’s stock after acquiring an additional 641,354 shares during the period. Suncor Energy accounts for 0.7% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 21st biggest holding. The Manufacturers Life Insurance Company owned about 1.72% of Suncor Energy worth $779,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ascent Group LLC grew its position in Suncor Energy by 4.7% in the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock worth $216,000 after purchasing an additional 260 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 309 shares during the period. Allworth Financial LP grew its holdings in Suncor Energy by 29.0% in the 2nd quarter. Allworth Financial LP now owns 2,021 shares of the oil and gas producer’s stock worth $76,000 after buying an additional 454 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 464 shares during the period. Finally, Lido Advisors LLC increased its position in Suncor Energy by 6.8% in the 2nd quarter. Lido Advisors LLC now owns 7,334 shares of the oil and gas producer’s stock valued at $275,000 after acquiring an additional 465 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

NYSE:SU opened at $44.19 on Thursday. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $45.60. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $42.01 and a 200-day moving average of $40.38. The firm has a market cap of $53.10 billion, a price-to-earnings ratio of 14.49 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the firm earned $1.48 EPS. Analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.4%. Suncor Energy’s payout ratio is currently 56.39%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.00.

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.