MU Investments Co. Ltd. Has $2.95 Million Stake in Suncor Energy Inc. (NYSE:SU)

MU Investments Co. Ltd. decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,200 shares of the oil and gas producer’s stock after selling 600 shares during the quarter. Suncor Energy makes up about 3.7% of MU Investments Co. Ltd.’s investment portfolio, making the stock its 17th largest position. MU Investments Co. Ltd.’s holdings in Suncor Energy were worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Arlington Partners LLC acquired a new position in Suncor Energy in the first quarter worth $26,000. Delta Asset Management LLC TN acquired a new position in Suncor Energy in the fourth quarter worth $31,000. Sunbelt Securities Inc. bought a new stake in shares of Suncor Energy during the first quarter worth $31,000. SRS Capital Advisors Inc. raised its position in shares of Suncor Energy by 672.4% during the first quarter. SRS Capital Advisors Inc. now owns 1,429 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 1,244 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Suncor Energy by 32.5% during the first quarter. Allworth Financial LP now owns 1,443 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 354 shares during the last quarter. Institutional investors and hedge funds own 60.25% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU traded down $0.05 during mid-day trading on Tuesday, reaching $34.83. The company’s stock had a trading volume of 1,473,516 shares, compared to its average volume of 4,637,512. Suncor Energy Inc. has a 1-year low of $26.42 and a 1-year high of $37.23. The stock has a market cap of $45.31 billion, a P/E ratio of 10.35, a PEG ratio of 0.83 and a beta of 1.27. The business has a 50-day simple moving average of $31.85 and a two-hundred day simple moving average of $30.82. The company has a current ratio of 1.18, a quick ratio of 0.76 and a debt-to-equity ratio of 0.24.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Monday, August 14th. The oil and gas producer reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.12. The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $7.89 billion. Suncor Energy had a return on equity of 20.19% and a net margin of 11.30%. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.56 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 1st will be paid a $0.393 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, August 31st. This represents a $1.57 annualized dividend and a dividend yield of 4.51%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SU. Desjardins downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company raised Suncor Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $44.00 to $54.00 in a research note on Wednesday, August 23rd. StockNews.com began coverage on Suncor Energy in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. BMO Capital Markets lowered Suncor Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 13th. Finally, UBS Group began coverage on Suncor Energy in a research note on Wednesday, July 12th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.67.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada 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. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.