Principal Financial Group Inc. Has $860.93 Million Holdings in Suncor Energy Inc. $SU

Key Points

• Principal Financial Group increased its Suncor stake by 2.7% in Q4, buying 516,783 shares to hold 19,371,704 shares worth $860.93 million, equal to 1.62% of the company.
• Suncor posted Q EPS of $0.79 (vs. $0.77 estimate) and revenue of $8.77B (slightly below consensus), with an 11.99% net margin and 12.51% ROE; analysts have largely upgraded the stock to a consensus "Buy" with a $72 target (some targets up to $89).
• The stock trades near its 52‑week high (opened $68.53 vs. $68.96 high), has a market cap of about $81.15 billion and a P/E of ~19.8, and institutional investors own roughly 67.37% of shares.

Principal Financial Group Inc. lifted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,371,704 shares of the oil and gas producer's stock after purchasing an additional 516,783 shares during the period. Principal Financial Group Inc. owned 1.62% of Suncor Energy worth $860,933,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Atlantic Edge Private Wealth Management LLC lifted its position in Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Sagespring Wealth Partners LLC lifted its position in Suncor Energy by 3.8% during the 4th quarter. Sagespring Wealth Partners LLC now owns 6,584 shares of the oil and gas producer's stock worth $292,000 after acquiring an additional 242 shares during the last quarter. Burney Co. lifted its position in Suncor Energy by 1.3% during the 4th quarter. Burney Co. now owns 20,208 shares of the oil and gas producer's stock worth $896,000 after acquiring an additional 261 shares during the last quarter. Richardson Financial Services Inc. lifted its position in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Finally, D Orazio & Associates Inc. lifted its position in Suncor Energy by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer's stock worth $305,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

NYSE:SU opened at $68.53 on Tuesday. The firm's 50-day moving average is $62.02 and its 200-day moving average is $51.59. Suncor Energy Inc. has a 52-week low of $33.50 and a 52-week high of $68.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. The company has a market cap of $81.15 billion, a price-to-earnings ratio of 19.75 and a beta of 0.31.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 6.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $72.00.

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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