Royal London Asset Management Ltd. Grows Position in Suncor Energy Inc. $SU

Royal London Asset Management Ltd. grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.0% during the second quarter, Holdings Channel.com reports. The fund owned 1,527,642 shares of the oil and gas producer’s stock after purchasing an additional 99,988 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Suncor Energy were worth $82,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SU. Versant Capital Management Inc boosted its holdings in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 398 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Suncor Energy in the 2nd quarter valued at about $31,000. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the 4th quarter worth approximately $32,000. Accent Capital Management LLC lifted its position in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Suncor Energy in the 4th quarter worth approximately $44,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SU. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Stock Performance

Shares of SU stock opened at $65.50 on Friday. The stock has a market capitalization of $77.34 billion, a P/E ratio of 12.06, a PEG ratio of 0.48 and a beta of 0.30. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $61.93 and its 200 day moving average is $62.06. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. During the same period in the previous year, the business earned $0.71 EPS. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. Suncor Energy’s dividend payout ratio is 32.04%.

About Suncor Energy

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.