PCJ Investment Counsel Ltd. Boosts Stock Position in Suncor Energy Inc. $SU

PCJ Investment Counsel Ltd. grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,760 shares of the oil and gas producer’s stock after purchasing an additional 2,760 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Suncor Energy were worth $2,504,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SU. Acadian Asset Management LLC boosted its position in Suncor Energy by 12,290.9% in the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after buying an additional 12,318,559 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake 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 valued at $481,135,000 after acquiring an additional 5,658,880 shares during the period. Nuveen LLC acquired a new stake in Suncor Energy during the 1st quarter valued at approximately $126,048,000. Mackenzie Financial Corp boosted its holdings in shares of Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock valued at $595,398,000 after acquiring an additional 2,410,857 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Suncor Energy by 1,025.0% in the 1st quarter. AustralianSuper Pty Ltd now owns 2,149,643 shares of the oil and gas producer’s stock valued at $83,248,000 after acquiring an additional 1,958,570 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SU. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Wells Fargo & Company started coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating on the stock. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Trading Up 1.5%

SU stock opened at $42.60 on Friday. The business’s 50-day moving average is $40.82 and its 200 day moving average is $38.92. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The stock has a market cap of $51.39 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 3.52 and a beta of 0.75. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter last year, the business posted $1.48 earnings per share. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a $0.60 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s payout ratio is 54.10%.

Suncor Energy Profile

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.