TD Waterhouse Canada Inc. Grows Stock Position in Suncor Energy Inc. $SU

Key Points

• TD Waterhouse Canada increased its Suncor Energy position by 2.1% in the second quarter, reaching 11.66 million shares valued at approximately $625.5 million. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly EPS of $2.33, exceeding the $2.14 consensus estimate, while revenue reached $13.41 billion versus expectations of $11.68 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $80.25. Suncor also declared a quarterly dividend of $0.60 per share, representing a 3.5% annualized yield.

TD Waterhouse Canada Inc. boosted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,657,514 shares of the oil and gas producer's stock after acquiring an additional 239,208 shares during the period. Suncor Energy accounts for about 1.7% of TD Waterhouse Canada Inc.'s portfolio, making the stock its 14th largest holding. TD Waterhouse Canada Inc. owned approximately 0.99% of Suncor Energy worth $625,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. boosted its stake in Suncor Energy by 9.1% during the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer's stock worth $16,008,000 after buying an additional 30,210 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock valued at $833,622,000 after acquiring an additional 411,243 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Suncor Energy by 6.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer's stock valued at $55,802,000 after acquiring an additional 50,502 shares during the period. Hillsdale Investment Management Inc. raised its stake in shares of Suncor Energy by 217.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 826,617 shares of the oil and gas producer's stock valued at $36,754,000 after acquiring an additional 566,195 shares during the period. Finally, Occidental Asset Management LLC acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $818,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research cut shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Wall Street Zen lowered Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. The Goldman Sachs Group lowered Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. Scotiabank raised Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.25.

Suncor Energy Price Performance

Shares of SU opened at $68.32 on Friday. The stock has a market cap of $80.67 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The firm has a fifty day moving average price of $62.95 and a 200 day moving average price of $62.47.

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 (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The company had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same period last year, the firm posted $0.71 EPS. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The business 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.5%. Suncor Energy's dividend payout ratio is currently 32.04%.

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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