Erste Asset Management GmbH Takes Position in Suncor Energy Inc. (NYSE:SU)

Erste Asset Management GmbH purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, according to its most recent filing with the SEC. The fund purchased 17,300 shares of the oil and gas producer’s stock, valued at approximately $638,000.

A number of other institutional investors have also made changes to their positions in SU. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 90.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. National Bank of Canada FI boosted its position in Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after purchasing an additional 3,272,896 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after purchasing an additional 1,829,936 shares during the period. Principal Financial Group Inc. boosted its position in Suncor Energy by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Trading Down 1.2 %

Shares of SU stock opened at $38.49 on Thursday. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The stock has a fifty day moving average of $39.18 and a two-hundred day moving average of $38.84. The firm has a market capitalization of $48.42 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.59 and a beta of 1.11.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is currently 36.60%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

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.