BTG Pactual Asset Management US LLC Buys 54,036 Shares of Suncor Energy Inc. $SU

BTG Pactual Asset Management US LLC grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 248.6% in the 2nd quarter, Holdings Channel reports. The firm owned 75,773 shares of the oil and gas producer’s stock after acquiring an additional 54,036 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in Suncor Energy were worth $4,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Suncor Energy by 121.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after purchasing an additional 14,304,131 shares during the last quarter. FIL Ltd raised its stake in Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after buying an additional 2,592,516 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after buying an additional 516,783 shares during the period. Fisher Asset Management LLC boosted its position in Suncor Energy by 8.3% during the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock valued at $746,176,000 after acquiring an additional 1,289,959 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Suncor Energy during the second quarter valued at $816,551,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SU shares. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $106.00 price target on Suncor Energy in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $65.50 on Monday. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.47 and a beta of 0.29. The business has a 50-day simple moving average of $61.93 and a 200 day simple moving average of $62.11. 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 (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, 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 firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, research analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given 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 dividend yield of 3.7%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

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.