Suncor Energy Inc. (NYSE:SU) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1,345.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 468,415 shares of the oil and gas producer’s stock after acquiring an additional 436,016 shares during the period. Intech Investment Management LLC’s holdings in Suncor Energy were worth $17,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SU. Trust Co. of Vermont acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at $26,000. Eastern Bank purchased a new position in Suncor Energy in the third quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in Suncor Energy during the second quarter worth approximately $27,000. Richardson Financial Services Inc. lifted its position in shares of 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 buying an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

SU has been the topic of several research reports. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Two research 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.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Performance

Shares of SU opened at $40.83 on Thursday. The stock has a market capitalization of $51.37 billion, a P/E ratio of 8.90, a P/E/G ratio of 2.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The company’s fifty day moving average is $38.66 and its two-hundred day moving average is $38.82.

Suncor Energy Increases Dividend

The company 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 dividend of $0.4089 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is currently 35.29%.

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.