Creative Planning Boosts Holdings in Suncor Energy Inc. (NYSE:SU)

Creative Planning grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,240 shares of the oil and gas producer’s stock after purchasing an additional 11,205 shares during the period. Creative Planning’s holdings in Suncor Energy were worth $9,645,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after buying an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of 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 buying an additional 3,951,287 shares during the last quarter. National Bank of Canada FI increased its stake in shares of 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 buying an additional 3,272,896 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Suncor Energy by 305.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock worth $63,687,000 after buying an additional 1,300,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after buying an additional 1,209,073 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU opened at $39.16 on Wednesday. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The company has a market cap of $49.41 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. 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 firm has a fifty day moving average of $38.96 and a 200-day moving average of $38.74.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SU shares. Scotiabank decreased their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six 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 a consensus target price of $55.83.

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.