Allspring Global Investments Holdings LLC Purchases 13,709 Shares of Suncor Energy Inc. (NYSE:SU)

Allspring Global Investments Holdings LLC boosted its position in Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) by 82.9% during the third quarter, Holdings Channel reports. The fund owned 30,249 shares of the oil and gas producer’s stock after acquiring an additional 13,709 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Suncor Energy were worth $850,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC increased its stake in Suncor Energy by 27.5% in the second quarter. CWM LLC now owns 1,564 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 337 shares during the last quarter. Delta Investment Management LLC boosted its position in Suncor Energy by 2.0% during the second quarter. Delta Investment Management LLC now owns 17,566 shares of the oil and gas producer’s stock valued at $616,000 after buying an additional 348 shares during the period. Hexagon Capital Partners LLC boosted its position in Suncor Energy by 22.6% during the third quarter. Hexagon Capital Partners LLC now owns 2,127 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 392 shares during the period. Arden Trust Co boosted its position in Suncor Energy by 1.3% during the third quarter. Arden Trust Co now owns 31,265 shares of the oil and gas producer’s stock valued at $880,000 after buying an additional 397 shares during the period. Finally, First Financial Corp IN boosted its position in Suncor Energy by 4.3% during the third quarter. First Financial Corp IN now owns 9,683 shares of the oil and gas producer’s stock valued at $272,000 after buying an additional 398 shares during the period. Institutional investors own 58.04% of the company’s stock.

Analyst Upgrades and Downgrades

SU has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Suncor Energy in a research report on Wednesday, October 19th. They set a “hold” rating for the company. Credit Suisse Group cut their price target on shares of Suncor Energy from C$63.00 to C$60.00 in a research report on Monday, November 21st. BMO Capital Markets cut their price target on shares of Suncor Energy from C$58.00 to C$55.00 in a research report on Wednesday, November 30th. Royal Bank of Canada cut their price target on shares of Suncor Energy from C$55.00 to C$54.00 in a research report on Wednesday, November 30th. Finally, Scotiabank cut their price target on shares of Suncor Energy from C$53.00 to C$50.00 in a research report on Tuesday, January 17th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.33.

Suncor Energy Stock Performance

Suncor Energy stock opened at $33.03 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $32.28 and a 200-day moving average of $32.16. The firm has a market cap of $44.18 billion, a P/E ratio of 7.58, a P/E/G ratio of 0.60 and a beta of 1.25. Suncor Energy Inc. has a 1-year low of $25.27 and a 1-year high of $42.72.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last posted its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.04. Suncor Energy had a return on equity of 27.23% and a net margin of 14.23%. The business had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $9.74 billion. Sell-side analysts expect that Suncor Energy Inc. will post 5.66 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Friday, December 2nd were paid a $0.3911 dividend. This represents a $1.56 annualized dividend and a yield of 4.74%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, December 1st. Suncor Energy’s dividend payout ratio is presently 35.55%.

Suncor Energy Profile

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Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration and Production; and Refining and Marketing.

See Also

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

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