Jupiter Topco LLC Makes New $43.30 Million Investment in Suncor Energy Inc. $SU

Key Points

• Jupiter Topco LLC acquired 805,240 Suncor Energy shares worth approximately $43.3 million in the second quarter, while institutional investors collectively owned 67.37% of the company.
• Suncor reported quarterly EPS of $2.33, exceeding estimates of $2.14, and revenue of $13.41 billion versus expectations of $11.68 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an $80.25 target price. Suncor also declared a quarterly dividend of $0.60 per share, representing a 3.6% annualized yield.

Jupiter Topco LLC bought a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 805,240 shares of the oil and gas producer's stock, valued at approximately $43,304,000. Jupiter Topco LLC owned approximately 0.07% of Suncor Energy at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company acquired a new position in Suncor Energy in the second quarter worth $790,952,000. Arrowstreet Capital Limited Partnership boosted its holdings in Suncor Energy by 121.4% in the first 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 purchasing an additional 14,304,131 shares during the period. Canada Pension Plan Investment Board bought a new stake in Suncor Energy during the second quarter valued at $466,810,000. Finally, AQR Capital Management LLC increased 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 valued at $267,042,000 after purchasing an additional 5,938,719 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SU has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. Morgan Stanley set a $106.00 price target on Suncor Energy in a report on Wednesday, August 19th. The Goldman Sachs Group downgraded Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Scotiabank raised Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Finally, Zacks Research cut Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. One investment 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 company. According to MarketBeat, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.25.

Suncor Energy Stock Performance

Shares of SU opened at $66.43 on Friday. The firm has a 50-day moving average price of $61.73 and a 200 day moving average price of $62.03. The firm has a market capitalization of $78.44 billion, a PE ratio of 12.23, a P/E/G ratio of 0.47 and a beta of 0.30. 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 analysts' consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The company had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the firm earned $0.71 EPS. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share 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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy's dividend payout ratio (DPR) is currently 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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