Pacifica Partners Inc. Buys 16,015 Shares of Suncor Energy Inc. $SU

Pacifica Partners Inc. raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,976 shares of the oil and gas producer’s stock after acquiring an additional 16,015 shares during the period. Suncor Energy makes up about 1.5% of Pacifica Partners Inc.’s portfolio, making the stock its 25th biggest holding. Pacifica Partners Inc.’s holdings in Suncor Energy were worth $4,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Shell Asset Management Co. raised its holdings in shares of Suncor Energy by 65.8% during the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock worth $3,854,000 after buying an additional 40,892 shares in the last quarter. Focus Partners Wealth grew its position in Suncor Energy by 1.3% in the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock valued at $30,859,000 after acquiring an additional 10,514 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Suncor Energy by 15.6% during the second quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer’s stock worth $11,818,000 after acquiring an additional 42,506 shares in the last quarter. Canoe Financial LP bought a new position in shares of Suncor Energy in the second quarter worth about $9,653,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Suncor Energy by 36.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock valued at $36,572,000 after purchasing an additional 251,298 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 0.9%

Suncor Energy stock opened at $42.42 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $45.60. The firm has a 50 day moving average price of $42.27 and a two-hundred day moving average price of $40.66. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 13.91 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating 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 company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the firm posted $1.48 EPS. Equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.7%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s payout ratio is currently 56.39%.

Analysts Set New Price Targets

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

About Suncor Energy

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.