Legal & General Group Plc Has $205.84 Million Position in Suncor Energy Inc. $SU

Legal & General Group Plc lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,631,639 shares of the oil and gas producer’s stock after selling 580,081 shares during the period. Legal & General Group Plc’s holdings in Suncor Energy were worth $205,842,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SU. Fisher Asset Management LLC raised its position in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after buying an additional 7,158,953 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Suncor Energy by 62.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after buying an additional 5,113,280 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of Suncor Energy by 334.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock valued at $108,324,000 after buying an additional 1,995,007 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Suncor Energy by 63.5% during the third quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock valued at $210,474,000 after buying an additional 1,952,444 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Suncor Energy by 173.2% during the third quarter. Lazard Asset Management LLC now owns 3,036,031 shares of the oil and gas producer’s stock valued at $126,994,000 after buying an additional 1,924,923 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE SU opened at $64.01 on Thursday. The stock has a market cap of $75.58 billion, a P/E ratio of 16.80 and a beta of 0.31. The company’s 50-day simple moving average is $65.20 and its 200 day simple moving average is $54.84. Suncor Energy Inc. has a twelve month low of $35.29 and a twelve month high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the firm earned $1.31 EPS. As a group, research analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. Suncor Energy’s payout ratio is presently 46.19%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SU shares. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada upped their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group upped their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Suncor Energy currently has a consensus rating of “Buy” and an average target price of $72.00.

About Suncor Energy

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.