Capital Research Global Investors Boosts Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Capital Research Global Investors increased its stake in Suncor by 0.7% in Q3, buying 33,091 shares to hold 4,960,303 shares (≈0.41% of the company) valued at about $207.6 million.
• Suncor declared a quarterly dividend of $0.60 per share (ex-dividend March 4, payable March 25), equal to an annualized $2.40 and a roughly 4.2% yield with a payout ratio near 50.7%.
• Shares trade at a P/E of about 16.5 with a $68.1 billion market cap; Wall Street’s consensus is a "Moderate Buy" (average target $61) while some brokers raised targets and ratings (RBC to $75, JPMorgan upgraded to overweight).

Capital Research Global Investors grew its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,960,303 shares of the oil and gas producer's stock after purchasing an additional 33,091 shares during the period. Capital Research Global Investors owned approximately 0.41% of Suncor Energy worth $207,579,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Richardson Financial Services Inc. grew its stake in Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Suncor Energy in the second quarter worth $31,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 465 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 388 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Suncor Energy during the 2nd quarter valued at $37,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

SU stock opened at $57.23 on Wednesday. The firm has a 50 day simple moving average of $52.42 and a two-hundred day simple moving average of $45.72. The stock has a market cap of $68.10 billion, a PE ratio of 16.49 and a beta of 0.43. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $58.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter last year, the company posted $1.25 EPS. On average, analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.2%. Suncor Energy's dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analyst Weigh In

Several brokerages have commented on SU. Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research note on Sunday, December 28th. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. The Goldman Sachs Group boosted 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, Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.00.

Suncor Energy Profile

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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