Suncor Energy Inc. (NYSE:SU) Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 23.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,939,573 shares of the oil and gas producer's stock after purchasing an additional 1,296,142 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of Suncor Energy worth $256,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SU. Trust Co. of Vermont purchased a new position in shares of Suncor Energy during the 2nd quarter valued at approximately $26,000. Eastern Bank bought a new position in Suncor Energy during the 3rd quarter valued at $25,000. Summit Securities Group LLC bought a new position in Suncor Energy during the 2nd quarter valued at $27,000. Richardson Financial Services Inc. grew its holdings in 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 worth $28,000 after acquiring an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SU shares. TD Securities upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an "outperform" rating and a $68.00 target price for the company. Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a "sector perform" rating on the stock in a report on Friday, July 12th. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, BMO Capital Markets raised shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.83.

Suncor Energy Price Performance

NYSE SU traded down $0.49 on Friday, reaching $39.11. 1,267,869 shares of the stock traded hands, compared to its average volume of 4,208,107. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a market cap of $49.35 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 2.78 and a beta of 1.12. The firm's fifty day simple moving average is $38.39 and its 200 day simple moving average is $38.75. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

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, beating the consensus estimate of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to analysts' expectations of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm's revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, research analysts predict that Suncor Energy Inc. will post 3.53 EPS for the current fiscal year.

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.