Ontario Teachers Pension Plan Board Buys 42,593 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• Ontario Teachers Pension Plan Board increased its holding in Suncor Energy Inc. by 18.5%, owning a total of 272,772 shares valued at approximately $10.56 million at the end of the last quarter.
• Suncor Energy recently declared a quarterly dividend of $0.4135 per share, representing a 4.2% yield and an increase from the previous quarter's dividend.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Suncor Energy, with a target price of $66.00, despite some recent downgrades to a "hold" rating.

Ontario Teachers Pension Plan Board raised its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 18.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,772 shares of the oil and gas producer's stock after purchasing an additional 42,593 shares during the period. Ontario Teachers Pension Plan Board's holdings in Suncor Energy were worth $10,563,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Alliancebernstein L.P. raised its stake in shares of Suncor Energy by 120.4% in the 4th quarter. Alliancebernstein L.P. now owns 228,696 shares of the oil and gas producer's stock valued at $8,160,000 after buying an additional 124,935 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Suncor Energy in the 4th quarter valued at $18,829,000. CenterBook Partners LP raised its stake in shares of Suncor Energy by 19.8% in the 4th quarter. CenterBook Partners LP now owns 26,991 shares of the oil and gas producer's stock valued at $963,000 after buying an additional 4,469 shares in the last quarter. Scotia Capital Inc. raised its stake in shares of Suncor Energy by 13.5% in the 4th quarter. Scotia Capital Inc. now owns 4,439,732 shares of the oil and gas producer's stock valued at $158,112,000 after buying an additional 528,320 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up $0.16 during mid-day trading on Friday, reaching $39.19. 3,738,487 shares of the stock were exchanged, compared to its average volume of 3,378,244. The company has a market cap of $47.73 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 3.44 and a beta of 0.84. The company has a current ratio of 1.26, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $38.83 and a 200 day simple moving average of $37.38. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.94.

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

Suncor Energy Increases Dividend

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

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy has a consensus rating of "Moderate Buy" and an average price target 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.