Canada Pension Plan Investment Board Decreases Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Canada Pension Plan Investment Board reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 33.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,018,891 shares of the oil and gas producer’s stock after selling 2,984,700 shares during the period. Canada Pension Plan Investment Board owned 0.47% of Suncor Energy worth $229,390,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SU. Toronto Dominion Bank lifted its position in shares of Suncor Energy by 59.7% in the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares during the period. TD Asset Management Inc lifted its stake in shares of Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after purchasing an additional 4,612,764 shares during the period. Assenagon Asset Management S.A. grew its stake in Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after purchasing an additional 3,951,287 shares during the period. National Bank of Canada FI raised its holdings in Suncor Energy by 60.7% in the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after purchasing an additional 3,272,896 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in shares of Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after acquiring an additional 1,568,629 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Finally, The Goldman Sachs Group raised their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Stock Up 2.0 %

SU stock opened at $37.70 on Friday. The company has a market cap of $47.90 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 2.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The business’s 50-day moving average is $38.92 and its two-hundred day moving average is $38.31. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, analysts forecast that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s payout ratio is 36.08%.

Suncor Energy Company Profile

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.