Northern Trust Corp Boosts Holdings in Suncor Energy Inc. (NYSE:SU)

Northern Trust Corp raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 58.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,317,872 shares of the oil and gas producer’s stock after buying an additional 487,033 shares during the quarter. Northern Trust Corp owned about 0.11% of Suncor Energy worth $47,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SU. Assenagon Asset Management S.A. grew its holdings in Suncor Energy by 1,324.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after buying an additional 3,225,543 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Suncor Energy by 2,061.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after purchasing an additional 2,325,503 shares in the last quarter. Fisher Asset Management LLC increased its position in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after purchasing an additional 1,842,791 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Suncor Energy by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer’s stock valued at $278,537,000 after purchasing an additional 1,737,573 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.8 %

SU stock opened at $34.24 on Friday. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95. The firm’s 50-day moving average is $35.60 and its 200 day moving average is $37.45. The company has a market capitalization of $42.23 billion, a PE ratio of 9.93, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same period last year, the company posted $1.41 earnings per share. On average, research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a $0.4133 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy’s payout ratio is presently 45.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.20.

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.