Suncor Energy Inc. $SU Stock: Cidel Asset Management Inc. Boosts Holdings

Cidel Asset Management Inc. boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 479,632 shares of the oil and gas producer’s stock after buying an additional 102,735 shares during the period. Suncor Energy comprises 1.6% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 12th largest holding. Cidel Asset Management Inc.’s holdings in Suncor Energy were worth $32,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Suncor Energy by 121.4% in the first 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 buying an additional 14,304,131 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock valued at $833,622,000 after acquiring an additional 411,243 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Suncor Energy during the second quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Suncor Energy during the second quarter valued at approximately $790,952,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Suncor Energy by 2.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock valued at $625,497,000 after acquiring an additional 239,208 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 2.5%

Suncor Energy stock opened at $79.55 on Friday. Suncor Energy Inc. has a 12 month low of $38.72 and a 12 month high of $80.25. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock has a market cap of $93.04 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.27 and a beta of 0.36. The company’s fifty day simple moving average is $71.06 and its 200-day simple moving average is $63.27.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. During the same period last year, the company earned $0.71 earnings per share. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 8.76 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were paid a C$0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.0%. Suncor Energy’s payout ratio is 31.86%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Morgan Stanley set a $106.00 target price on Suncor Energy in a report on Wednesday, August 19th. Finally, Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $79.62.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.