46,000 Shares of Suncor Energy Inc. $SU Bought by MFF Capital Investments Ltd

MFF Capital Investments Ltd acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,000 shares of the oil and gas producer’s stock, valued at approximately $3,122,000. Suncor Energy accounts for about 0.2% of MFF Capital Investments Ltd’s investment portfolio, making the stock its 23rd biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after purchasing an additional 14,304,131 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock valued at $833,622,000 after buying an additional 411,243 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $790,952,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Suncor Energy by 2.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after buying an additional 239,208 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research report on Wednesday, August 19th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy currently has a consensus rating of “Buy” and an average target price of $81.71.

Suncor Energy Trading Up 0.4%

SU opened at $67.73 on Wednesday. Suncor Energy Inc. has a 52 week low of $42.09 and a 52 week high of $80.25. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $71.66 and a 200-day simple moving average of $64.02. The firm has a market cap of $78.47 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.22 and a beta of 0.22.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.49. Suncor Energy had a net margin of 17.49% and a return on equity of 25.55%. The firm had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $11.85 billion. During the same period in the prior year, the firm earned $1.48 EPS. On average, equities analysts expect that Suncor Energy Inc. will post 9.30 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 3rd will be paid a dividend of C$0.66 per share. The ex-dividend date is Thursday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 annualized dividend and a yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is presently 27.65%.

About Suncor Energy

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.