Massachusetts Financial Services Co. MA Has $878.13 Million Stake in Suncor Energy Inc. (NYSE:SU)

Massachusetts Financial Services Co. MA raised its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,048,048 shares of the oil and gas producer’s stock after purchasing an additional 366,432 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.81% of Suncor Energy worth $878,131,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in shares of Suncor Energy during the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy in the 4th quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at about $26,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $27,000. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy in the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.4 %

Shares of SU stock opened at $36.44 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The firm has a fifty day moving average of $38.97 and a 200-day moving average of $38.29. Suncor Energy Inc. has a 52-week low of $29.45 and a 52-week high of $41.94. The stock has a market cap of $46.30 billion, a price-to-earnings ratio of 8.12, a P/E/G ratio of 2.44 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter last year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.34%. Suncor Energy’s dividend payout ratio is currently 36.08%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SU. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Wolfe Research started coverage on Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank dropped their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.86.

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.