Ninepoint Partners LP Purchases New Holdings in Suncor Energy Inc. (SU)
Ninepoint Partners LP bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 614,158 shares of the oil and gas producer’s stock, valued at approximately $21,514,000. Suncor Energy comprises approximately 1.5% of Ninepoint Partners LP’s portfolio, making the stock its 13th biggest holding.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Personal Financial Services lifted its stake in Suncor Energy by 144.1% in the second quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock valued at $112,000 after acquiring an additional 2,270 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Suncor Energy by 90.8% in the second quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock valued at $124,000 after acquiring an additional 2,248 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Suncor Energy by 13.7% in the second quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock valued at $136,000 after acquiring an additional 562 shares during the last quarter. Forward Management LLC acquired a new stake in Suncor Energy in the third quarter valued at approximately $154,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Suncor Energy by 680.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 5,735 shares of the oil and gas producer’s stock valued at $167,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 63.80% of the company’s stock.
A number of research firms have recently commented on SU. TD Securities reissued a “hold” rating on shares of Suncor Energy in a research report on Thursday. Zacks Investment Research raised shares of Suncor Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Citigroup Inc. reissued a “buy” rating on shares of Suncor Energy in a research report on Wednesday, August 2nd. Wolfe Research raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. Finally, BidaskClub raised shares of Suncor Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $43.86.
Shares of Suncor Energy Inc. (NYSE:SU) traded down $0.20 during mid-day trading on Thursday, reaching $35.57. 3,527,600 shares of the company were exchanged, compared to its average volume of 3,254,224. Suncor Energy Inc. has a fifty-two week low of $27.96 and a fifty-two week high of $36.71. The company has a market capitalization of $58,070.00, a price-to-earnings ratio of 30.84, a P/E/G ratio of 3.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.62.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.15. Suncor Energy had a net margin of 11.63% and a return on equity of 5.68%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.80 billion. equities analysts anticipate that Suncor Energy Inc. will post 1.28 EPS for the current fiscal year.
The business also recently announced a dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be given a dividend of $0.251 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from Suncor Energy ‘s previous dividend of $0.19. Suncor Energy ‘s payout ratio is 60.95%.
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About Suncor Energy
Suncor Energy Inc is a Canada-based 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.
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