Amundi Boosts Stake in Suncor Energy Inc. $SU

Key Points

• Amundi increased its Suncor Energy stake by 1.6% in the second quarter, bringing its holdings to 4.68 million shares valued at approximately $251.2 million. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly EPS of $2.33, exceeding estimates of $2.14, while revenue reached $13.41 billion versus expectations of $11.68 billion.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $80.25.

Amundi lifted its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,678,647 shares of the oil and gas producer's stock after purchasing an additional 74,955 shares during the quarter. Amundi owned approximately 0.40% of Suncor Energy worth $251,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. raised its holdings in shares of Suncor Energy by 9.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer's stock valued at $16,008,000 after buying an additional 30,210 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock worth $833,622,000 after buying an additional 411,243 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Suncor Energy by 6.3% during the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer's stock worth $55,802,000 after buying an additional 50,502 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Suncor Energy by 217.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 826,617 shares of the oil and gas producer's stock valued at $36,754,000 after acquiring an additional 566,195 shares during the period. Finally, Occidental Asset Management LLC acquired a new position in Suncor Energy in the 2nd quarter valued at about $818,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 0.0%

Suncor Energy stock opened at $67.36 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a market cap of $78.79 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The stock's 50 day moving average price is $63.49 and its 200 day moving average price is $62.64.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.41 billion during the quarter, compared to analysts' expectations of $11.68 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, sell-side analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy's payout ratio is currently 31.86%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group lowered Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price on the stock. in a report on Friday, June 5th. Zacks Research cut Suncor Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Wall Street Zen downgraded Suncor Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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