Suncor Energy Inc. $SU Position Increased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,484,634 shares of the oil and gas producer’s stock after buying an additional 21,437 shares during the period. Suncor Energy accounts for approximately 1.2% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 22nd largest holding. TD Waterhouse Canada Inc. owned 0.37% of Suncor Energy worth $182,846,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Suncor Energy by 3.1% in the second quarter. Janney Montgomery Scott LLC now owns 36,328 shares of the oil and gas producer’s stock valued at $1,360,000 after purchasing an additional 1,076 shares during the period. Truist Financial Corp raised its holdings in shares of Suncor Energy by 1.8% during the second quarter. Truist Financial Corp now owns 51,441 shares of the oil and gas producer’s stock valued at $1,926,000 after buying an additional 886 shares during the last quarter. Finally, Gold Investment Management Ltd. raised its holdings in shares of Suncor Energy by 2.2% during the second quarter. Gold Investment Management Ltd. now owns 150,311 shares of the oil and gas producer’s stock valued at $5,629,000 after buying an additional 3,169 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SU. Wells Fargo & Company started coverage on Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating for the company. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $46.15 to $54.00 in a research note on Tuesday, January 20th. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. The Goldman Sachs Group lifted their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $57.67.

Suncor Energy Stock Up 1.9%

SU stock opened at $53.00 on Thursday. The firm has a market cap of $63.25 billion, a PE ratio of 17.38 and a beta of 0.46. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $53.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $42.37.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The business had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the firm posted $1.48 EPS. Equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were issued a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a dividend yield of 4.5%. Suncor Energy’s dividend payout ratio is 56.39%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.