K.J. Harrison & Partners Inc Invests $3.96 Million in Suncor Energy Inc. $SU

K.J. Harrison & Partners Inc acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 73,769 shares of the oil and gas producer’s stock, valued at approximately $3,961,000.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Suncor Energy during the second quarter worth $124,096,000. Occidental Asset Management LLC purchased a new stake in shares of Suncor Energy in the second quarter worth about $818,000. Deutsche Bank AG purchased a new stake in Suncor Energy in the 2nd quarter worth approximately $165,381,000. Beverly Hills Private Wealth LLC acquired a new stake in Suncor Energy during the second quarter valued at $3,101,000. Finally, Avise Financial Cooperative Inc. acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at about $375,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Stock Up 1.3%

Shares of Suncor Energy stock opened at $66.69 on Tuesday. The company has a market capitalization of $78.74 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.49 and a beta of 0.29. The company has a 50 day moving average of $60.51 and a 200 day moving average of $61.25. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, research analysts forecast that Suncor Energy Inc. will post 7.13 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy’s payout ratio is currently 32.04%.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.