Mufg Securities Canada LTD. Has $89.71 Million Stock Position in Suncor Energy Inc. $SU

Key Points

• Mufg Securities Canada reduced its Suncor Energy position by 5.4% in the second quarter, selling 94,811 shares. It still held 1.67 million shares worth approximately $89.7 million, representing 2.4% of its portfolio.
• Suncor reported quarterly earnings of $2.33 per share, exceeding the $2.14 consensus estimate, while revenue reached $13.41 billion versus expectations of $11.68 billion.
• The company declared a quarterly dividend of $0.60 per share, equivalent to an annualized $2.40 payout and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $80.25.

Mufg Securities Canada LTD. reduced its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,670,236 shares of the oil and gas producer's stock after selling 94,811 shares during the period. Suncor Energy makes up about 2.4% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its 16th largest position. Mufg Securities Canada LTD. owned about 0.14% of Suncor Energy worth $89,713,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 398 shares during the last quarter. 1 North Wealth Services LLC acquired a new position in Suncor Energy during the 4th quarter valued at $32,000. Cassaday & Co Wealth Management LLC bought a new stake in Suncor Energy in the 1st quarter valued at $53,000. Headlands Technologies LLC acquired a new stake in Suncor Energy in the 2nd quarter worth $31,000. Finally, Accent Capital Management LLC increased its holdings in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 225 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 2.1%

SU opened at $66.82 on Tuesday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The firm has a market cap of $78.90 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.47 and a beta of 0.29. The firm's 50-day simple moving average is $62.14 and its 200-day simple moving average is $62.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to analysts' expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the prior year, the firm earned $0.71 earnings per share. Equities research analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy's payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

SU has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Wall Street Zen cut shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Morgan Stanley set a $106.00 price objective on Suncor Energy in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average target price of $80.25.

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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