Suncor Energy Inc. (NYSE:SU) Stake Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,402,981 shares of the oil and gas producer’s stock after purchasing an additional 442,760 shares during the quarter. Allianz Asset Management GmbH’s holdings in Suncor Energy were worth $121,406,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in shares of Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after purchasing an additional 333,440 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after purchasing an additional 180,533 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after buying an additional 1,829,936 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Suncor Energy by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after buying an additional 413,797 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the subject of a number of recent analyst reports. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $40.19 on Friday. The stock has a fifty day moving average price of $37.89 and a two-hundred day moving average price of $38.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a market cap of $50.02 billion, a P/E ratio of 11.65, a PEG ratio of 2.92 and a beta of 1.12. Suncor Energy Inc. has a 1 year low of $32.64 and a 1 year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.97%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.67%.

About Suncor Energy

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.