Legal & General Group Plc Has $218.15 Million Stake in Suncor Energy Inc. $SU

Key Points

• Legal & General increased its stake in Suncor to 5,211,720 shares (about 0.43% of the company), buying 270,539 shares in Q3 and raising its holding to approximately $218.15 million.
• Suncor declared a quarterly dividend of $0.60 per share (annualized $2.40), representing a 4.0% yield with an ex-dividend date of March 4 and payment on March 25.
• The company reported EPS of $0.79 (versus $0.77 expected) on revenue of $8.77 billion (slightly below estimates), and analysts maintain a generally positive view—consensus rating "Moderate Buy" with a price target around $63.67 and some targets raised up to $75.

Legal & General Group Plc raised its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,211,720 shares of the oil and gas producer's stock after purchasing an additional 270,539 shares during the quarter. Legal & General Group Plc owned approximately 0.43% of Suncor Energy worth $218,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. increased its stake in shares of Suncor Energy by 64.1% in the third 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 valued at about $31,000. Hanson & Doremus Investment Management lifted its position in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $33,000 after buying an additional 465 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in 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 worth $33,000 after buying an additional 388 shares in the last quarter. Finally, Corsicana & Co. bought a new stake in Suncor Energy during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Up 2.5%

NYSE SU opened at $59.76 on Friday. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $60.09. The stock has a 50-day simple moving average of $53.00 and a 200 day simple moving average of $45.90. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $71.10 billion, a PE ratio of 17.22 and a beta of 0.43.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter last year, the business earned $1.25 earnings per share. Research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 4.0%. Suncor Energy's dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SU shares. Zacks Research cut shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. The Goldman Sachs Group increased their price target on shares of Suncor Energy from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and raised their price target for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Weiss Ratings restated a "buy (b)" rating on shares of Suncor Energy in a research report on Monday, December 29th. Finally, Royal Bank Of Canada upped their price objective on Suncor Energy from $69.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.67.

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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