Suncor Energy Inc. $SU Stake Lifted by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,194 shares of the oil and gas producer’s stock after buying an additional 703 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Suncor Energy were worth $906,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SU. Acadian Asset Management LLC boosted its position in Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after acquiring an additional 12,318,559 shares during the period. Principal Financial Group Inc. boosted its position in Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock worth $620,136,000 after acquiring an additional 6,311,513 shares during the period. Goldman Sachs Group Inc. boosted its position in Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock worth $481,135,000 after acquiring an additional 5,658,880 shares during the period. Nuveen LLC acquired a new position in Suncor Energy during the 1st quarter worth $126,048,000. Finally, Mackenzie Financial Corp boosted its position in Suncor Energy by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after acquiring an additional 2,410,857 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Down 2.1%

Shares of SU stock opened at $39.53 on Friday. The stock has a 50-day simple moving average of $40.70 and a 200 day simple moving average of $38.25. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $43.48. The stock has a market capitalization of $47.79 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.20 and a beta of 0.78. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $11.56 billion. During the same quarter last year, the business posted $1.27 earnings per share. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given a $0.4135 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy’s dividend payout ratio is 51.08%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $65.00.

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.