Northern Trust Corp Purchases 487,033 Shares of Suncor Energy Inc. (NYSE:SU)

Northern Trust Corp increased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 58.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,317,872 shares of the oil and gas producer's stock after acquiring an additional 487,033 shares during the period. Northern Trust Corp owned about 0.11% of Suncor Energy worth $47,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $104,000. Tidal Investments LLC raised its holdings in shares of Suncor Energy by 59.6% in the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer's stock valued at $811,000 after purchasing an additional 8,207 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Suncor Energy by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer's stock valued at $256,429,000 after purchasing an additional 1,296,142 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Suncor Energy by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer's stock valued at $4,169,000 after acquiring an additional 321 shares during the last quarter. Finally, Trust Co. of Toledo NA OH increased its holdings in shares of Suncor Energy by 14.4% in the 4th quarter. Trust Co. of Toledo NA OH now owns 22,981 shares of the oil and gas producer's stock valued at $820,000 after acquiring an additional 2,885 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Down 0.7%

Shares of NYSE SU traded down $0.27 during mid-day trading on Wednesday, reaching $36.14. The company had a trading volume of 961,236 shares, compared to its average volume of 4,555,502. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of $44.57 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The stock's 50 day moving average is $35.66 and its 200-day moving average is $37.37.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period in the prior year, the firm earned $1.41 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Wednesday, June 4th. Suncor Energy's payout ratio is 45.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SU shares. StockNews.com lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Bank of America started coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a "neutral" rating on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Finally, Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.20.

About Suncor Energy

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.