Morgan Stanley raised its holdings in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) by 16.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,383,586 shares of the oil and gas producer’s stock after acquiring an additional 1,342,893 shares during the period. Morgan Stanley’s holdings in Suncor Energy were worth $322,608,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Suncor Energy by 1.5% in the first quarter. Vanguard Group Inc. now owns 48,285,003 shares of the oil and gas producer’s stock worth $1,573,608,000 after buying an additional 702,121 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Suncor Energy by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 20,658,847 shares of the oil and gas producer’s stock valued at $709,835,000 after acquiring an additional 1,356,470 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Suncor Energy by 1.9% during the third quarter. Artisan Partners Limited Partnership now owns 20,348,705 shares of the oil and gas producer’s stock worth $699,750,000 after purchasing an additional 377,500 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Suncor Energy by 4.1% in the third quarter. The Manufacturers Life Insurance Company now owns 19,194,858 shares of the oil and gas producer’s stock worth $663,794,000 after purchasing an additional 762,271 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Suncor Energy by 9.2% in the third quarter. Mackenzie Financial Corp now owns 18,430,549 shares of the oil and gas producer’s stock worth $618,071,000 after purchasing an additional 1,558,350 shares during the last quarter. 60.25% of the stock is currently owned by hedge funds and other institutional investors.
Suncor Energy Price Performance
SU opened at $35.02 on Wednesday. The stock’s 50 day moving average price is $33.01 and its 200-day moving average price is $33.07. Suncor Energy Inc. has a 52-week low of $27.59 and a 52-week high of $35.51. The stock has a market capitalization of $45.12 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 3.30 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The firm had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. During the same period last year, the company posted $1.33 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.51 EPS for the current year.
Suncor Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Monday, March 4th will be issued a $0.406 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, March 1st. Suncor Energy’s payout ratio is presently 34.26%.
Suncor Energy 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.
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Source: defenseworld.net
