GQG Partners LLC Purchases Shares of 2,293,204 Suncor Energy Inc. $SU

GQG Partners LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,293,204 shares of the oil and gas producer’s stock, valued at approximately $123,328,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Formidable Asset Management LLC raised its holdings in Suncor Energy by 1.1% in the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after acquiring an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in Suncor Energy by 0.8% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after acquiring an additional 190 shares in the last quarter. IFP Advisors Inc grew its holdings in Suncor Energy by 22.6% during the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 193 shares in the last quarter. DGS Capital Management LLC grew its holdings in Suncor Energy by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after acquiring an additional 193 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its position in shares of Suncor Energy by 3.5% in the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock valued at $255,000 after purchasing an additional 196 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Up 0.8%

SU stock opened at $68.46 on Friday. The company has a market cap of $80.83 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The company has a fifty day moving average price of $61.02 and a 200 day moving average price of $61.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29.

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

Suncor Energy Announces Dividend

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 issued 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 dividend yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley set a $106.00 price objective on Suncor Energy in a report on Wednesday. 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 stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average target price of $80.25.

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.