Allianz Asset Management GmbH Boosts Stake in Suncor Energy Inc. (NYSE:SU)

Allianz Asset Management GmbH raised its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,402,981 shares of the oil and gas producer’s stock after acquiring an additional 442,760 shares during the period. Allianz Asset Management GmbH owned approximately 0.27% of Suncor Energy worth $121,406,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its stake in shares of Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after purchasing an additional 180,533 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after purchasing an additional 2,767,043 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Suncor Energy by 7.6% during the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after purchasing an additional 413,797 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SU shares. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Trading Up 0.8 %

Shares of NYSE SU opened at $40.19 on Friday. The stock’s 50 day moving average price is $37.89 and its two-hundred day moving average price is $38.64. Suncor Energy Inc. has a 52-week low of $32.64 and a 52-week high of $41.94. The stock has a market capitalization of $50.02 billion, a P/E ratio of 11.65, a PEG ratio of 2.92 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 46.67%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.