PCJ Investment Counsel Ltd. Boosts Holdings in Suncor Energy Inc. (NYSE:SU)

PCJ Investment Counsel Ltd. lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,390 shares of the oil and gas producer’s stock after acquiring an additional 15,950 shares during the quarter. Suncor Energy accounts for approximately 2.2% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 13th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Suncor Energy were worth $6,953,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Aigen Investment Management LP purchased a new stake in shares of Suncor Energy during the 3rd quarter worth about $1,376,000. Assenagon Asset Management S.A. boosted its stake 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 worth $316,226,000 after acquiring an additional 3,951,287 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Suncor Energy by 5.9% during the 1st 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 acquiring an additional 1,031,542 shares in the last quarter. Mediolanum International Funds Ltd boosted its stake in shares of Suncor Energy by 22.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock worth $9,245,000 after acquiring an additional 46,155 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Suncor Energy in the 2nd quarter valued at about $2,448,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” 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 research note on Thursday, November 14th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Up 0.4 %

SU stock opened at $40.98 on Wednesday. The company has a market cap of $51.70 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.79 and a beta of 1.12. 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 Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The firm has a 50-day moving average of $38.56 and a two-hundred day moving average of $38.81.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase 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.