Janus Henderson Group PLC Acquires 26,844 Shares of Suncor Energy Inc. $SU

Key Points

• Janus Henderson increased its Suncor Energy stake by 3.4%, acquiring 26,844 shares to own 812,882 shares valued at approximately $53.6 million. Institutional investors collectively hold 67.37% of Suncor’s outstanding stock.
• Suncor reported quarterly revenue of $10.41 billion, exceeding estimates, but earnings per share of $1.41 fell short of the $1.45 consensus forecast. The company’s shares opened at $67.22, near their 12-month high of $70.29.
• Suncor declared a quarterly dividend of $0.60, equivalent to $2.40 annually and a 3.6% yield. Analysts maintain a consensus “Buy” rating with an average price target of $71.67, despite mixed recent rating changes.

Janus Henderson Group PLC boosted its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 812,882 shares of the oil and gas producer's stock after acquiring an additional 26,844 shares during the quarter. Janus Henderson Group PLC owned about 0.07% of Suncor Energy worth $53,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC raised its position in 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. lifted its holdings in shares of Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after buying an additional 1,254 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 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 in the last quarter. AXA S.A. lifted its holdings in Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock worth $1,883,000 after buying an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock valued at $2,514,000 after purchasing an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 0.7%

SU stock opened at $67.22 on Friday. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a market cap of $79.37 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.50 and a beta of 0.30. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $60.62 and a two-hundred day moving average of $60.08.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analysts' expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the company earned $1.31 earnings per share. As a group, analysts forecast that Suncor Energy Inc. will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy's dividend payout ratio is currently 45.67%.

Analyst Ratings Changes

Several equities analysts have issued reports on SU shares. Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group lowered 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. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $71.67.

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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