Price T Rowe Associates Inc. MD Has $683.92 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Price T Rowe Associates Inc. MD grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,529,253 shares of the oil and gas producer’s stock after buying an additional 1,031,542 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.44% of Suncor Energy worth $683,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Bank of Nova Scotia Trust Co. raised its position in Suncor Energy by 3.2% during the first quarter. Bank of Nova Scotia Trust Co. now owns 544,885 shares of the oil and gas producer’s stock valued at $20,112,000 after acquiring an additional 16,852 shares in the last quarter. 1832 Asset Management L.P. raised its position in Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock valued at $817,835,000 after acquiring an additional 868,475 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Suncor Energy by 2.8% during the first quarter. Canada Pension Plan Investment Board now owns 9,003,591 shares of the oil and gas producer’s stock valued at $332,599,000 after acquiring an additional 248,318 shares in the last quarter. Toronto Dominion Bank raised its position in Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after acquiring an additional 6,580,260 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in Suncor Energy by 7.5% during the first quarter. Advisors Asset Management Inc. now owns 44,721 shares of the oil and gas producer’s stock valued at $1,651,000 after acquiring an additional 3,105 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

SU stock traded down $0.51 on Monday, reaching $37.99. 400,294 shares of the company were exchanged, compared to its average volume of 4,464,712. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.50. The stock’s fifty day moving average price is $38.46 and its 200 day moving average price is $36.64. The firm has a market capitalization of $48.68 billion, a PE ratio of 8.49, a PEG ratio of 3.50 and a beta of 1.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. On average, research analysts anticipate that Suncor Energy Inc. will post 3.67 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.395 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s dividend payout ratio is currently 35.63%.

Analysts Set New Price Targets

SU has been the topic of a number of recent analyst reports. Scotiabank dropped their price target 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. Wolfe Research initiated coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. TD Securities lifted their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Finally, Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.75.

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.