27,505 Shares in Suncor Energy Inc. (SU) Purchased by ING Groep NV
ING Groep NV bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,505 shares of the oil and gas producer’s stock, valued at approximately $1,010,000.
A number of other institutional investors have also added to or reduced their stakes in SU. SeaCrest Wealth Management LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth about $100,000. Cerebellum GP LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth about $134,000. UBS Asset Management Americas Inc. grew its holdings in shares of Suncor Energy by 13.7% during the second quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 562 shares during the last quarter. Forward Management LLC bought a new stake in shares of Suncor Energy during the third quarter worth about $154,000. Finally, Advisory Services Network LLC grew its holdings in shares of Suncor Energy by 3.9% during the second quarter. Advisory Services Network LLC now owns 6,470 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 65.69% of the company’s stock.
SU has been the topic of several research reports. Canaccord Genuity restated a “buy” rating and set a $51.00 price target on shares of Suncor Energy in a report on Thursday, October 26th. Piper Jaffray Companies set a $46.00 price target on Suncor Energy and gave the stock a “buy” rating in a report on Friday, February 9th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Edward Jones upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, November 20th. Finally, Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Saturday, January 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Suncor Energy currently has an average rating of “Buy” and a consensus target price of $46.67.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 5th will be issued a $0.286 dividend. The ex-dividend date is Friday, March 2nd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.25. This represents a $1.14 annualized dividend and a yield of 3.41%. Suncor Energy’s dividend payout ratio is presently 47.42%.
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Suncor Energy Company Profile
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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