Van ECK Associates Corp Acquires 326,492 Shares of Suncor Energy Inc. (NYSE:SU)

Van ECK Associates Corp grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 45.9% during the 3rd quarter, Holdings Channel reports. The fund owned 1,037,031 shares of the oil and gas producer’s stock after buying an additional 326,492 shares during the period. Van ECK Associates Corp’s holdings in Suncor Energy were worth $40,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Suncor Energy by 2,358.4% in the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after buying an additional 16,509 shares in the last quarter. Empowered Funds LLC bought a new stake in Suncor Energy during the 1st quarter worth approximately $2,940,000. Assenagon Asset Management S.A. boosted its position in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after purchasing an additional 3,951,287 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after purchasing an additional 1,031,542 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Suncor Energy by 56.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock worth $2,054,000 after purchasing an additional 20,101 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SU. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Scotiabank cut their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Stock Down 0.5 %

NYSE SU opened at $37.59 on Monday. The stock has a 50 day moving average price of $38.54 and a 200-day moving average price of $38.75. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The company has a market capitalization of $47.43 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.68 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating the consensus estimate 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 earned $0.71 earnings per share. Suncor Energy’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that Suncor Energy Inc. will post 3.53 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s payout ratio is 37.59%.

Suncor Energy 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.