Bridgewater Associates LP Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

Bridgewater Associates LP raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 113.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 983,633 shares of the oil and gas producer’s stock after acquiring an additional 522,635 shares during the quarter. Bridgewater Associates LP’s holdings in Suncor Energy were worth $36,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eastern Bank purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy in the second quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in shares of Suncor Energy during the second quarter worth about $27,000. Richardson Financial Services Inc. increased its holdings 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 valued at $28,000 after acquiring an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Suncor Energy in the 2nd quarter valued at approximately $29,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Down 2.7 %

NYSE SU opened at $39.55 on Wednesday. The company has a fifty day moving average of $38.98 and a 200 day moving average of $38.86. The company has a market capitalization of $49.76 billion, a PE ratio of 8.62, a P/E/G ratio of 2.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is an increase 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 4.14%. Suncor Energy’s dividend payout ratio is presently 35.29%.

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.