Metis Global Partners LLC Acquires 3,350 Shares of Suncor Energy Inc. (NYSE:SU)

Metis Global Partners LLC boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.6% during the third quarter, HoldingsChannel reports. The fund owned 76,110 shares of the oil and gas producer’s stock after purchasing an additional 3,350 shares during the quarter. Metis Global Partners LLC’s holdings in Suncor Energy were worth $2,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in shares of Suncor Energy in the third quarter worth $1,376,000. BNP Paribas Financial Markets lifted its stake in shares of Suncor Energy by 2,358.4% in the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after purchasing an additional 16,509 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Suncor Energy by 90.9% during 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 purchasing an additional 3,951,287 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Suncor Energy by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after purchasing an additional 1,031,542 shares during the period. Finally, Mediolanum International Funds Ltd increased its holdings in Suncor Energy by 22.5% in the third quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock worth $9,245,000 after purchasing an additional 46,155 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Suncor Energy stock opened at $40.44 on Friday. The firm’s 50 day simple moving average is $38.29 and its 200 day simple moving average is $38.74. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The firm has a market capitalization of $51.02 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 2.81 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a $0.4089 dividend. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.05%. Suncor Energy’s payout ratio is 35.29%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SU. Wolfe Research began coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average 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.