BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 228,861 Shares of Suncor Energy Inc. (NYSE:SU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 127.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,634 shares of the oil and gas producer's stock after acquiring an additional 228,861 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Suncor Energy were worth $15,081,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Eastern Bank bought a new stake in Suncor Energy in the third quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy during the second quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in Suncor Energy during the second quarter worth approximately $27,000. Richardson Financial Services Inc. grew its position in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock worth $28,000 after buying an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy in the second quarter worth approximately $29,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Down 0.2 %

NYSE SU traded down $0.07 during trading on Friday, reaching $39.48. 1,821,328 shares of the company's stock were exchanged, compared to its average volume of 4,300,758. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company's fifty day simple moving average is $39.12 and its 200-day simple moving average is $38.86. The firm has a market capitalization of $49.67 billion, a PE ratio of 8.60, a P/E/G ratio of 2.61 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. The ex-dividend date is Tuesday, December 3rd. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.14%. Suncor Energy's payout ratio is presently 35.29%.

Wall Street Analyst Weigh In

SU has been the subject of several research reports. Desjardins raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. BMO Capital Markets raised Suncor Energy from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, TD Securities upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Suncor Energy currently has an average rating of "Moderate Buy" and an average target price of $56.40.

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.