Suncor Energy Inc. (NYSE:SU) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. raised its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,106,454 shares of the oil and gas producer's stock after buying an additional 40,540 shares during the quarter. Suncor Energy accounts for 2.6% of Intact Investment Management Inc.'s portfolio, making the stock its 7th largest position. Intact Investment Management Inc. owned about 0.16% of Suncor Energy worth $77,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Eastern Bank purchased a new position in Suncor Energy during the third quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of Suncor Energy during the 2nd quarter valued at $26,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy in the second quarter worth $27,000. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Suncor Energy during the second quarter valued at $29,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wolfe Research started coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an "outperform" rating and a $68.00 target price on the stock. StockNews.com cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Scotiabank dropped their price target on shares of Suncor Energy from $61.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Friday, July 12th. BMO Capital Markets raised shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 7th. Finally, TD Securities raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.83.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.58 during trading hours on Monday, reaching $38.17. 1,840,270 shares of the company's stock were exchanged, compared to its average volume of 4,245,469. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $48.16 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.68 and a beta of 1.12. The business has a fifty day moving average price of $38.54 and a 200-day moving average price of $38.75.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same period last year, the business posted $0.71 EPS. The business's quarterly revenue was up 10.1% on a year-over-year basis. Analysts predict that Suncor Energy Inc. will post 3.53 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.395 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.14%. Suncor Energy's dividend payout ratio (DPR) is presently 37.59%.

Suncor Energy 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.