Manning & Napier Group LLC Makes New Investment in Suncor Energy Inc. (NYSE:SU)

Manning & Napier Group LLC bought a new position in Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 94,930 shares of the oil and gas producer’s stock, valued at approximately $3,329,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. BNP Paribas Arbitrage SA boosted its holdings in shares of Suncor Energy by 2,530.4% during the fourth quarter. BNP Paribas Arbitrage SA now owns 17,124 shares of the oil and gas producer’s stock worth $429,000 after purchasing an additional 16,473 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Suncor Energy by 17.2% during the fourth quarter. HighTower Advisors LLC now owns 28,601 shares of the oil and gas producer’s stock worth $716,000 after purchasing an additional 4,200 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Suncor Energy by 4.0% during the fourth quarter. Allianz Asset Management GmbH now owns 139,357 shares of the oil and gas producer’s stock worth $3,491,000 after purchasing an additional 5,309 shares during the period. Level Four Advisory Services LLC acquired a new stake in shares of Suncor Energy during the fourth quarter worth approximately $247,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Suncor Energy by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 4,130,188 shares of the oil and gas producer’s stock worth $103,697,000 after purchasing an additional 155,868 shares during the period. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Down 2.7 %

Shares of NYSE SU opened at $30.35 on Thursday. The stock has a market cap of $41.47 billion, a P/E ratio of 5.87, a P/E/G ratio of 0.69 and a beta of 1.25. The firm has a 50 day moving average price of $31.94 and a 200 day moving average price of $34.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 1.14. Suncor Energy Inc. has a 52-week low of $19.32 and a 52-week high of $42.72.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 2nd will be paid a $0.3656 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.46 dividend on an annualized basis and a yield of 4.82%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.36. Suncor Energy’s payout ratio is presently 27.66%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SU shares. BMO Capital Markets raised their price target on shares of Suncor Energy from C$54.00 to C$60.00 in a report on Thursday, June 9th. Scotiabank raised their price objective on shares of Suncor Energy from C$46.00 to C$57.00 in a research report on Wednesday, June 8th. Raymond James lowered shares of Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. Royal Bank of Canada raised shares of Suncor Energy from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, June 21st. Finally, National Bank Financial cut their price objective on shares of Suncor Energy from C$73.00 to C$64.00 in a research report on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $51.38.

Suncor Energy Profile

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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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