Manning & Napier Group LLC lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,335 shares of the oil and gas producer’s stock after acquiring an additional 3,824 shares during the quarter. Manning & Napier Group LLC’s holdings in Suncor Energy were worth $3,421,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellevest Inc. bought a new stake in shares of Suncor Energy during the 2nd quarter worth about $37,000. Doyle Wealth Management bought a new stake in shares of Suncor Energy during the 2nd quarter worth about $38,000. Cornerstone Advisors Inc. boosted its stake in shares of Suncor Energy by 34.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,473 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 378 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of Suncor Energy by 39.9% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,468 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 419 shares in the last quarter. Finally, Resources Investment Advisors LLC. boosted its stake in shares of Suncor Energy by 33.3% during the 2nd quarter. Resources Investment Advisors LLC. now owns 1,600 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 64.07% of the company’s stock.
Several analysts have recently issued reports on SU shares. National Bank Financial downgraded Suncor Energy from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, October 1st. BMO Capital Markets reiterated a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Citigroup decreased their target price on Suncor Energy from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, ValuEngine upgraded Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.23.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.09). Suncor Energy had a net margin of 14.55% and a return on equity of 10.20%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $8.15 billion. Analysts anticipate that Suncor Energy Inc. will post 2.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.321 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, September 3rd. This represents a $1.28 annualized dividend and a yield of 4.31%. Suncor Energy’s dividend payout ratio is presently 63.00%.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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