The Manufacturers Life Insurance Company Boosts Position in Suncor Energy Inc. (NYSE:SU)

The Manufacturers Life Insurance Company increased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,161,479 shares of the oil and gas producer's stock after purchasing an additional 27,330 shares during the quarter. Suncor Energy accounts for 0.8% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 16th biggest holding. The Manufacturers Life Insurance Company owned approximately 1.99% of Suncor Energy worth $929,301,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Suncor Energy in the third quarter valued at about $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy during the 2nd quarter valued at $26,000. Summit Securities Group LLC purchased a new position in Suncor Energy during the second quarter worth $27,000. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 82.8% in 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 during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at $29,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SU has been the subject of a number of recent research reports. Desjardins upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. StockNews.com raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. TD Securities raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets upgraded Suncor Energy from a "market perform" rating to an "outperform" rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.40.

Suncor Energy Trading Down 2.7 %

SU stock traded down $1.11 on Tuesday, hitting $39.55. 7,031,366 shares of the company were exchanged, compared to its average volume of 4,282,919. 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 capitalization of $49.76 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 2.74 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. The business's fifty day moving average is $38.98 and its two-hundred day moving average is $38.86.

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 issued a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.14%. This is an increase 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 presently 36.60%.

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.