Suncor Energy Inc. (SU) is Manitou Investment Management Ltd.’s 2nd Largest Position
Manitou Investment Management Ltd. raised its stake in shares of Suncor Energy Inc. (NYSE:SU) by 31.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 739,573 shares of the company’s stock after buying an additional 178,056 shares during the period. Suncor Energy makes up approximately 6.5% of Manitou Investment Management Ltd.’s holdings, making the stock its 2nd largest position. Manitou Investment Management Ltd.’s holdings in Suncor Energy were worth $20,375,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Roberts Glore & Co. Inc. IL purchased a new position in shares of Suncor Energy during the second quarter worth $434,000. Flossbach Von Storch AG increased its stake in shares of Suncor Energy by 37.4% in the second quarter. Flossbach Von Storch AG now owns 50,000 shares of the company’s stock worth $1,386,000 after buying an additional 13,600 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Suncor Energy by 36.2% in the second quarter. Advisory Services Network LLC now owns 8,270 shares of the company’s stock worth $229,000 after buying an additional 2,200 shares in the last quarter. Dividend Assets Capital LLC increased its stake in shares of Suncor Energy by 0.9% in the second quarter. Dividend Assets Capital LLC now owns 2,040,069 shares of the company’s stock worth $56,571,000 after buying an additional 18,645 shares in the last quarter. Finally, Capital Fund Management S.A. increased its stake in shares of Suncor Energy by 271.4% in the second quarter. Capital Fund Management S.A. now owns 490,499 shares of the company’s stock worth $13,602,000 after buying an additional 358,435 shares in the last quarter. Hedge funds and other institutional investors own 64.08% of the company’s stock.
Suncor Energy Inc. (NYSE:SU) traded up 1.08% during midday trading on Tuesday, hitting $28.93. The company had a trading volume of 2,614,496 shares. Suncor Energy Inc. has a 52 week low of $18.71 and a 52 week high of $30.70. The firm’s 50 day moving average is $27.22 and its 200-day moving average is $27.42. The firm’s market capitalization is $48.15 billion.
Suncor Energy (NYSE:SU) last issued its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.15. Suncor Energy had a negative net margin of 11.29% and a negative return on equity of 1.59%. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, equities research analysts expect that Suncor Energy Inc. will post ($0.35) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.2194 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.88 dividend on an annualized basis and a yield of 3.03%. Suncor Energy’s payout ratio is -60.54%.
A number of brokerages recently issued reports on SU. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $39.00 to $40.00 in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Citigroup Inc. raised Suncor Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $44.00 in a research report on Thursday, June 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $51.00 price target on shares of Suncor Energy in a research report on Saturday, June 25th. Finally, Scotiabank reissued an “outperform” rating and set a $38.00 price target on shares of Suncor Energy in a research report on Sunday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Suncor Energy currently has an average rating of “Buy” and an average price target of $39.16.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
Receive News & Stock Ratings for Suncor Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy Inc. and related stocks with our FREE daily email newsletter.