Addenda Capital Inc. Buys 37,352 Shares of Suncor Energy Inc. $SU

Addenda Capital Inc. boosted its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 784,418 shares of the oil and gas producer's stock after acquiring an additional 37,352 shares during the period. Suncor Energy accounts for about 1.4% of Addenda Capital Inc.'s holdings, making the stock its 22nd biggest position. Addenda Capital Inc. owned about 0.07% of Suncor Energy worth $42,108,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SU. AQR Capital Management LLC raised its holdings in shares of 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 worth $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after acquiring an additional 1,254 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after acquiring an additional 464 shares during the period. AXA S.A. increased its holdings in Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock worth $1,883,000 after acquiring an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock valued at $2,514,000 after acquiring an additional 4,043 shares during the period. Institutional investors own 67.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. The Goldman Sachs Group lowered shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Finally, Weiss Ratings upgraded Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Suncor Energy Stock Performance

Suncor Energy stock opened at $65.50 on Monday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $77.34 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29. The firm's 50 day simple moving average is $61.93 and its 200 day simple moving average is $62.11.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period last year, the firm earned $0.71 EPS. As a group, analysts expect that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.7%. Suncor Energy's dividend payout ratio (DPR) is currently 32.04%.

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.

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