Flputnam Investment Management Co. Purchases Shares of 216,276 Suncor Energy Inc. $SU

Key Points

• Flputnam Investment Management initiated a position in Suncor Energy by purchasing 216,276 shares valued at approximately $11.6 million. Institutional investors and hedge funds collectively own 67.37% of the company.
• Analysts maintain a generally positive outlook, with Suncor receiving a consensus “Moderate Buy” rating and an average price target of $71.67, despite some recent rating downgrades.
• Suncor reported quarterly earnings of $2.33 per share, exceeding estimates of $2.14, while revenue reached $13.41 billion. The company also announced a quarterly dividend of $0.60 per share, representing a 3.6% annualized yield.

Flputnam Investment Management Co. purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 216,276 shares of the oil and gas producer's stock, valued at approximately $11,610,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its position in shares of Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer's stock worth $1,724,954,000 after acquiring an additional 14,304,131 shares in the last quarter. AQR Capital Management LLC lifted its stake in Suncor Energy by 7,636.8% during the fourth quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer's stock worth $267,042,000 after purchasing an additional 5,938,719 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Suncor Energy by 238.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer's stock valued at $512,987,000 after purchasing an additional 5,469,431 shares in the last quarter. Alberta Investment Management Corp acquired a new position in Suncor Energy in the second quarter valued at approximately $163,386,000. Finally, Bank of New York Mellon Corp purchased a new position in Suncor Energy in the second quarter valued at approximately $147,444,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SU shares. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. Weiss Ratings upgraded shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. Zacks Research downgraded 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. Finally, Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.67.

Suncor Energy Trading Up 0.0%

NYSE:SU opened at $65.85 on Monday. The stock's 50 day moving average price is $60.44 and its 200 day moving average price is $61.15. The company has a market capitalization of $77.75 billion, a PE ratio of 12.13, a P/E/G ratio of 0.49 and a beta of 0.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 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 company had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, research analysts anticipate that Suncor Energy Inc. will post 7.13 EPS for the current year.

Suncor Energy Announces Dividend

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 dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy's dividend payout ratio (DPR) is 32.04%.

Suncor Energy Company 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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