Suncor Energy Inc. (NYSE:SU) Stock Position Lifted by Nexus Investment Management ULC

Nexus Investment Management ULC boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 519,355 shares of the oil and gas producer’s stock after buying an additional 2,425 shares during the quarter. Suncor Energy makes up about 1.9% of Nexus Investment Management ULC’s holdings, making the stock its 26th biggest position. Nexus Investment Management ULC’s holdings in Suncor Energy were worth $18,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Suncor Energy by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 656,635 shares of the oil and gas producer’s stock valued at $25,018,000 after buying an additional 36,069 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Suncor Energy by 15.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,191 shares of the oil and gas producer’s stock valued at $1,640,000 after acquiring an additional 5,856 shares during the last quarter. King Luther Capital Management Corp bought a new stake in Suncor Energy in the second quarter worth approximately $1,377,000. Sei Investments Co. increased its stake in shares of Suncor Energy by 57.8% during the 2nd quarter. Sei Investments Co. now owns 248,867 shares of the oil and gas producer’s stock worth $9,482,000 after purchasing an additional 91,163 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Suncor Energy during the 2nd quarter valued at $1,316,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SU. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Down 0.1 %

Shares of SU stock opened at $39.02 on Friday. The stock has a 50 day moving average of $38.07 and a 200-day moving average of $38.52. The firm has a market cap of $48.57 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 3.38 and a beta of 1.12. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 12 month low of $31.03 and a 12 month high of $41.94.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.19%. Suncor Energy’s dividend payout ratio is 35.08%.

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.