Healthcare of Ontario Pension Plan Trust Fund Boosts Holdings in Suncor Energy Inc. $SU

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 238.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,758,650 shares of the oil and gas producer’s stock after purchasing an additional 5,469,431 shares during the period. Suncor Energy makes up 0.8% of Healthcare of Ontario Pension Plan Trust Fund’s portfolio, making the stock its 22nd largest holding. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Suncor Energy were worth $512,987,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SU. AQR Capital Management LLC boosted its stake in shares of Suncor Energy by 14.2% during the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 1,254 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of 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. AXA S.A. lifted its holdings in shares of Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 4,043 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SU. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $71.67.

Suncor Energy Stock Performance

NYSE SU opened at $65.84 on Friday. The stock’s fifty day moving average is $60.91 and its two-hundred day moving average is $59.38. The firm has a market capitalization of $77.74 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 0.50 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company posted $1.31 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 7.11 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were 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 of this dividend was Thursday, June 4th. Suncor Energy’s payout ratio is presently 45.67%.

Suncor Energy Company 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.