Maryland State Retirement & Pension System Buys 47,825 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• The Maryland State Retirement & Pension System increased its holdings in Suncor Energy by 20% during the first quarter, totaling 286,710 shares valued at approximately $11.1 million.
• Suncor Energy recently declared a quarterly dividend of $0.4135 per share, marking a slight increase from the previous dividend, with a dividend yield of 4.2%.
• Analysts have given Suncor Energy a consensus rating of "Moderate Buy," with an average target price set at $66.00.

Maryland State Retirement & Pension System increased its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 20.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 286,710 shares of the oil and gas producer's stock after buying an additional 47,825 shares during the quarter. Maryland State Retirement & Pension System's holdings in Suncor Energy were worth $11,099,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management grew its holdings in shares of Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 405 shares during the period. N.E.W. Advisory Services LLC bought a new stake in shares of Suncor Energy during the first quarter worth approximately $36,000. Covestor Ltd boosted its holdings in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after acquiring an additional 256 shares during the period. Finally, Wayfinding Financial LLC bought a new stake in shares of Suncor Energy during the first quarter worth approximately $42,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

SU traded up $0.16 during trading on Friday, hitting $39.19. 3,738,487 shares of the stock traded hands, compared to its average volume of 3,378,244. The business has a 50 day moving average price of $38.83 and a 200 day moving average price of $37.38. The company has a market cap of $47.73 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 3.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.84. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the prior year, the business earned $1.27 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's payout ratio is currently 51.08%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.