Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 23.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,695,560 shares of the oil and gas producer's stock after purchasing an additional 1,829,936 shares during the quarter. Suncor Energy accounts for approximately 1.7% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 11th largest position. Connor Clark & Lunn Investment Management Ltd. owned 0.77% of Suncor Energy worth $357,827,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer's stock worth $649,872,000 after purchasing an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer's stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the period. National Bank of Canada FI lifted its position in shares of Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer's stock worth $328,876,000 after purchasing an additional 3,272,896 shares during the last quarter. Principal Financial Group Inc. increased its stake in Suncor Energy by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer's stock valued at $256,429,000 after buying an additional 1,296,142 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer's stock valued at $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Institutional investors own 67.37% of the company's stock.
Suncor Energy Stock Down 0.4 %
NYSE SU traded down $0.15 on Wednesday, hitting $40.83. 2,800,992 shares of the stock traded hands, compared to its average volume of 4,260,382. The stock has a 50-day moving average of $38.56 and a 200 day moving average of $38.81. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $51.52 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94.
Suncor Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.4089 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.01%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is currently 35.29%.
Analyst Ratings Changes
A number of research analysts have issued reports on SU shares. BMO Capital Markets upgraded Suncor Energy from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Finally, TD Securities raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.40.
Read Our Latest Report on Suncor Energy
Suncor Energy Profile
(
Free Report)
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.
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