Man Group plc Increases Stake in Suncor Energy Inc. (NYSE:SU)

Man Group plc grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 51.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,555 shares of the oil and gas producer’s stock after buying an additional 38,921 shares during the quarter. Man Group plc’s holdings in Suncor Energy were worth $4,087,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SU. Park Avenue Securities LLC increased its holdings in shares of Suncor Energy by 17.4% in the 4th quarter. Park Avenue Securities LLC now owns 19,798 shares of the oil and gas producer’s stock valued at $706,000 after purchasing an additional 2,940 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Suncor Energy in the 4th quarter valued at about $295,000. UMB Bank n.a. increased its holdings in shares of Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Suncor Energy in the 4th quarter valued at about $264,000. Finally, Stonehage Fleming Financial Services Holdings Ltd increased its holdings in shares of Suncor Energy by 8.6% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 26,939 shares of the oil and gas producer’s stock valued at $961,000 after purchasing an additional 2,124 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating for the company. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

Suncor Energy Stock Performance

NYSE:SU opened at $35.17 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $35.63 and a two-hundred day moving average price of $37.28. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The company has a market capitalization of $43.36 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period last year, the firm posted $1.41 EPS. As a group, research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Wednesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.53%.

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.