Intact Investment Management Inc. Increases Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Intact Investment Management Inc. lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 19.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,065,914 shares of the oil and gas producer’s stock after purchasing an additional 335,590 shares during the quarter. Suncor Energy makes up 2.9% of Intact Investment Management Inc.’s portfolio, making the stock its 4th largest holding. Intact Investment Management Inc.’s holdings in Suncor Energy were worth $78,744,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Maryland State Retirement & Pension System grew its position in Suncor Energy by 12.4% in the 2nd quarter. Maryland State Retirement & Pension System now owns 232,313 shares of the oil and gas producer’s stock valued at $8,857,000 after buying an additional 25,551 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $742,000. Heritage Family Offices LLP acquired a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $711,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Suncor Energy in the second quarter valued at approximately $1,398,000. Finally, Atlas Capital Advisors LLC increased its stake in shares of Suncor Energy by 19.6% during the second quarter. Atlas Capital Advisors LLC now owns 3,866 shares of the oil and gas producer’s stock valued at $147,000 after acquiring an additional 634 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank decreased their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $54.86.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $40.54 on Friday. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month 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 cap of $51.50 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. The business has a fifty day simple moving average of $39.08 and a 200-day simple moving average of $37.90.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data 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 return on equity of 16.22% and a net margin of 14.40%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same period in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s payout ratio is presently 35.63%.

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.