Vanguard Group Inc. Has $2.28 Billion Holdings in Suncor Energy Inc. $SU

Vanguard Group Inc. cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,554,516 shares of the oil and gas producer’s stock after selling 77,000 shares during the period. Vanguard Group Inc.’s holdings in Suncor Energy were worth $2,282,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SU. CWA Asset Management Group LLC increased its position in Suncor Energy by 64.9% during the third quarter. CWA Asset Management Group LLC now owns 117,779 shares of the oil and gas producer’s stock worth $4,924,000 after buying an additional 46,342 shares during the last quarter. Principal Financial Group Inc. increased its stake in Suncor Energy by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after acquiring an additional 106,765 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in Suncor Energy by 15.6% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer’s stock valued at $11,818,000 after acquiring an additional 42,506 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Suncor Energy by 45.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 723,965 shares of the oil and gas producer’s stock worth $29,871,000 after buying an additional 227,197 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Suncor Energy by 1.4% during the second quarter. Legal & General Group Plc now owns 4,941,181 shares of the oil and gas producer’s stock worth $184,730,000 after buying an additional 66,610 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 1.8%

SU stock opened at $56.83 on Friday. The stock has a 50-day simple moving average of $48.91 and a two-hundred day simple moving average of $44.02. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $57.13. The firm has a market capitalization of $67.62 billion, a PE ratio of 16.31 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same period in the previous year, the business earned $1.25 earnings per share. On average, equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is currently 49.57%.

Analyst Ratings Changes

Several brokerages have issued reports on SU. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. The Goldman Sachs Group lifted their price target on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average target price of $61.00.

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.