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

Metis Global Partners LLC raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,110 shares of the oil and gas producer’s stock after buying an additional 3,350 shares during the period. Metis Global Partners LLC’s holdings in Suncor Energy were worth $2,809,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in shares of Suncor Energy during the 2nd quarter worth about $26,000. Eastern Bank bought a new stake in shares of Suncor Energy during the third quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy in the second quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its stake in shares of 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 worth $28,000 after purchasing an additional 328 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Suncor Energy during the 2nd quarter worth approximately $29,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Wolfe Research assumed coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Up 2.1 %

NYSE SU opened at $40.44 on Friday. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The business has a fifty day moving average price of $38.29 and a two-hundred day moving average price of $38.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The stock has a market capitalization of $51.02 billion, a PE ratio of 8.81, a PEG 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. Shareholders of record on Tuesday, December 3rd will be given a $0.4089 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 35.29%.

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.