Jupiter Topco LLC Invests $43.30 Million in Suncor Energy Inc. $SU

Jupiter Topco LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 805,240 shares of the oil and gas producer’s stock, valued at approximately $43,304,000.

Several other large investors have also bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 398 shares in the last quarter. Headlands Technologies LLC bought a new stake in Suncor Energy during the second quarter worth approximately $31,000. 1 North Wealth Services LLC bought a new stake in Suncor Energy during the fourth quarter worth approximately $32,000. Accent Capital Management LLC grew its position in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Suncor Energy in the fourth quarter worth approximately $44,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday, August 19th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

Suncor Energy Price Performance

SU opened at $66.43 on Friday. The stock has a fifty day moving average of $61.73 and a 200-day moving average of $62.03. The firm has a market capitalization of $78.44 billion, a P/E ratio of 12.23, a PEG ratio of 0.47 and a beta of 0.30. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. During the same quarter last year, the firm posted $0.71 earnings per share. Equities analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is presently 32.04%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.