Sumitomo Mitsui DS Asset Management Company Ltd Has $1.39 Million Position in Suncor Energy Inc. (NYSE:SU)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,609 shares of the oil and gas producer’s stock after buying an additional 917 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Suncor Energy were worth $1,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SU. Fisher Asset Management LLC grew its position in shares of Suncor Energy by 38.4% in the 4th quarter. Fisher Asset Management LLC now owns 7,479 shares of the oil and gas producer’s stock valued at $240,000 after acquiring an additional 2,076 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Suncor Energy by 6.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 83,731 shares of the oil and gas producer’s stock valued at $3,091,000 after acquiring an additional 5,082 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Suncor Energy in the 1st quarter valued at about $230,000. Independence Bank of Kentucky grew its position in shares of Suncor Energy by 6.7% in the 1st quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 315 shares during the period. Finally, First Bank & Trust grew its position in shares of Suncor Energy by 8.7% in the 1st quarter. First Bank & Trust now owns 8,267 shares of the oil and gas producer’s stock valued at $305,000 after acquiring an additional 662 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

NYSE SU opened at $39.16 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $49.41 billion, a P/E ratio of 9.09, a P/E/G ratio of 2.63 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The firm has a 50-day moving average price of $38.96 and a two-hundred day moving average price of $38.74.

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

Suncor Energy Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on SU. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. 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 research report on Friday, July 12th. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy 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.