OMERS ADMINISTRATION Corp Acquires Shares of 1,522,424 Suncor Energy Inc. $SU

OMERS ADMINISTRATION Corp acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,522,424 shares of the oil and gas producer’s stock, valued at approximately $81,876,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after acquiring an additional 1,166,405 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Suncor Energy by 121.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after purchasing an additional 14,304,131 shares in the last quarter. FIL Ltd lifted its stake in Suncor Energy by 14.0% in the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after purchasing an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Suncor Energy by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after purchasing an additional 516,783 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Suncor Energy by 8.3% during the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock valued at $746,176,000 after purchasing an additional 1,289,959 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.1%

Shares of SU stock opened at $68.46 on Monday. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $61.02 and its two-hundred day simple moving average is $61.67. The company has a market cap of $80.83 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same period last year, the company earned $0.71 EPS. Research analysts predict 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 given a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

Analysts Set New Price Targets

SU has been the topic of several research reports. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Morgan Stanley set a $106.00 price target on Suncor Energy in a research note on Wednesday. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $80.25.

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.