M&T Bank Corp Boosts Stake in Suncor Energy Inc. (NYSE:SU)

M&T Bank Corp lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,496 shares of the oil and gas producer’s stock after acquiring an additional 842 shares during the quarter. M&T Bank Corp’s holdings in Suncor Energy were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Eastern Bank purchased a new stake in Suncor Energy during the third quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Suncor Energy in the second quarter valued at approximately $27,000. Richardson Financial Services Inc. grew its holdings in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Suncor Energy in the second quarter valued at $29,000. Finally, Waldron Private Wealth LLC purchased a new position in shares of Suncor Energy during the 3rd quarter valued at $49,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $35.86 on Wednesday. The firm has a market capitalization of $45.12 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. Suncor Energy Inc. has a 12 month low of $31.03 and a 12 month high of $41.94. The business’s 50-day moving average price is $39.01 and its 200-day moving average price is $38.66. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.56%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday. Finally, StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.40.

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.