Canada Pension Plan Investment Board Makes New $466.81 Million Investment in Suncor Energy Inc. $SU

Canada Pension Plan Investment Board acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,685,671 shares of the oil and gas producer’s stock, valued at approximately $466,810,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SU. Versant Capital Management Inc increased its holdings in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy in the 4th quarter valued at about $32,000. Accent Capital Management LLC lifted its stake in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Suncor Energy during the fourth quarter worth about $44,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $65.38 on Wednesday. The firm has a market cap of $77.20 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The business’s 50 day moving average is $61.32 and its 200-day moving average is $61.86. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the company posted $0.71 EPS. Equities research analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $106.00 price target on Suncor Energy in a research note on Wednesday, August 19th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $80.25.

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.