PCJ Investment Counsel Ltd. Increases Stock Holdings in Suncor Energy Inc. (NYSE:SU)

PCJ Investment Counsel Ltd. raised its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,390 shares of the oil and gas producer's stock after buying an additional 15,950 shares during the period. Suncor Energy makes up about 2.2% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 13th biggest holding. PCJ Investment Counsel Ltd.'s holdings in Suncor Energy were worth $6,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SU. Trust Co. of Vermont acquired a new position in Suncor Energy during the second quarter valued at approximately $26,000. Eastern Bank acquired a new position in shares of Suncor Energy during the 3rd quarter valued at $25,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the 2nd quarter worth $27,000. Richardson Financial Services Inc. grew its position in 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 valued at $28,000 after buying an additional 328 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in Suncor Energy during the second quarter valued at about $29,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Suncor Energy Stock Down 0.8 %

Shares of SU stock traded down $0.33 on Wednesday, hitting $40.65. The stock had a trading volume of 1,818,827 shares, compared to its average volume of 4,256,017. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The business has a 50 day moving average of $38.56 and a 200 day moving average of $38.81. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The stock has a market cap of $51.29 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.02%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy's dividend payout ratio is 35.29%.

About Suncor Energy

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.