Maryland State Retirement & Pension System Acquires 32,909 Shares of Suncor Energy Inc. $SU

Maryland State Retirement & Pension System raised its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 319,619 shares of the oil and gas producer’s stock after purchasing an additional 32,909 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $11,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SU. Acadian Asset Management LLC lifted its position in Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after purchasing an additional 12,318,559 shares during the last quarter. Principal Financial Group Inc. lifted its position in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after purchasing an additional 6,311,513 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock valued at $481,135,000 after purchasing an additional 5,658,880 shares during the last quarter. Nuveen LLC bought a new position in Suncor Energy during the first quarter valued at $126,048,000. Finally, Mackenzie Financial Corp lifted its position in Suncor Energy by 18.6% during the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock valued at $595,398,000 after purchasing an additional 2,410,857 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 1.3%

SU stock opened at $40.84 on Thursday. The company has a market capitalization of $49.38 billion, a PE ratio of 12.57, a P/E/G ratio of 3.35 and a beta of 0.78. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $43.48. The firm’s 50-day moving average is $40.67 and its 200 day moving average is $38.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter last year, the firm posted $1.27 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a $0.4135 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 4.0%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 51.08%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SU shares. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

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.