Flputnam Investment Management Co. Invests $11.61 Million in Suncor Energy Inc. $SU

Flputnam Investment Management Co. bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 216,276 shares of the oil and gas producer’s stock, valued at approximately $11,610,000.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 398 shares during the last quarter. Headlands Technologies LLC bought a new position in Suncor Energy during the second quarter worth about $31,000. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the 4th quarter worth approximately $32,000. Accent Capital Management LLC boosted its position in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares during the period. Finally, Summit Securities Group LLC acquired a new position in Suncor Energy in the 4th quarter valued at about $44,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SU shares. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Friday, June 5th. Finally, Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.25.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $65.50 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $77.34 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.30. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a 50-day simple moving average of $61.93 and a two-hundred day simple moving average of $62.06.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the prior year, the business posted $0.71 EPS. Analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. Suncor Energy’s dividend payout ratio is currently 32.04%.

About Suncor Energy

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.