Suncor Energy Inc. (NYSE:SU) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,619,354 shares of the oil and gas producer's stock after acquiring an additional 29,014 shares during the quarter. Franklin Resources Inc. owned about 0.29% of Suncor Energy worth $146,948,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Eastern Bank bought a new stake in Suncor Energy in the 3rd quarter worth about $25,000. Summit Securities Group LLC purchased a new position in shares of Suncor Energy during the 2nd quarter valued at about $27,000. Richardson Financial Services Inc. lifted its position in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock valued at $28,000 after buying an additional 328 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Suncor Energy during the 2nd quarter valued at about $29,000. Finally, Waldron Private Wealth LLC purchased a new position in shares of Suncor Energy during the 3rd quarter valued at about $49,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 1.4 %

Shares of SU stock traded down $0.52 during mid-day trading on Monday, hitting $36.26. The stock had a trading volume of 6,720,954 shares, compared to its average volume of 4,331,175. Suncor Energy Inc. has a 12-month low of $31.03 and a 12-month high of $41.94. The firm has a market capitalization of $45.62 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The firm's 50-day moving average is $39.16 and its two-hundred day moving average is $38.72. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.51%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. Suncor Energy's dividend payout ratio is currently 36.60%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley downgraded Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday. Desjardins raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and an average price target 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.