Sumitomo Life Insurance Co. Acquires 917 Shares of Suncor Energy Inc. (NYSE:SU)

Sumitomo Life Insurance Co. grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,609 shares of the oil and gas producer’s stock after buying an additional 917 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Suncor Energy were worth $1,389,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in Suncor Energy in the second quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in Suncor Energy during the second quarter valued at approximately $27,000. Richardson Financial Services Inc. grew its stake in shares of Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $29,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Suncor Energy during the 4th quarter worth approximately $38,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Up 1.0 %

SU opened at $38.65 on Thursday. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The stock has a market capitalization of $49.53 billion, a PE ratio of 8.61, a PEG ratio of 2.72 and a beta of 1.12. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $39.05 and a two-hundred day moving average price of $38.72.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same quarter last year, the business posted $0.71 earnings per share. Suncor Energy’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.86%.

Analysts Set New Price Targets

A number of analysts have weighed in on SU shares. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th. Scotiabank lowered their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.83.

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.