M&T Bank Corp Acquires 842 Shares of Suncor Energy Inc. (NYSE:SU)

M&T Bank Corp increased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,496 shares of the oil and gas producer’s stock after purchasing an additional 842 shares during the quarter. M&T Bank Corp’s holdings in Suncor Energy were worth $535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC grew its position in shares of Suncor Energy by 1,345.8% in the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after buying an additional 436,016 shares during the last quarter. Aigen Investment Management LP bought a new stake in Suncor Energy in the third quarter valued at approximately $1,376,000. DRW Securities LLC acquired a new stake in Suncor Energy during the 3rd quarter valued at approximately $1,151,000. Mediolanum International Funds Ltd raised its holdings in Suncor Energy by 22.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock worth $9,245,000 after purchasing an additional 46,155 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $2,448,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SU. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday. Finally, StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $35.86 on Wednesday. The firm has a market capitalization of $45.12 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 2.43 and a beta of 1.11. The business has a 50-day simple moving average of $39.01 and a 200 day simple moving average of $38.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy Inc. has a one year low of $31.03 and a one year high of $41.94.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.56%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 36.60%.

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.