Allspring Global Investments Holdings LLC Acquires 60,506 Shares of Suncor Energy Inc. $SU

Allspring Global Investments Holdings LLC grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,769 shares of the oil and gas producer’s stock after acquiring an additional 60,506 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Suncor Energy were worth $50,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Suncor Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares in the last quarter. FIL Ltd raised its holdings in shares of Suncor Energy by 14.0% during the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after acquiring an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Suncor Energy by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after acquiring an additional 516,783 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Suncor Energy by 8.3% during the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock valued at $746,176,000 after acquiring an additional 1,289,959 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Suncor Energy by 17.5% in the fourth quarter. Morgan Stanley now owns 12,877,899 shares of the oil and gas producer’s stock valued at $571,264,000 after purchasing an additional 1,917,612 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $62.45 on Friday. The stock has a 50 day moving average price of $61.11 and a 200 day moving average price of $58.68. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The firm has a market capitalization of $73.73 billion, a P/E ratio of 16.39 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.31 EPS. As a group, sell-side analysts predict that Suncor Energy Inc. will post 6.9 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. Suncor Energy’s dividend payout ratio (DPR) is 45.67%.

Wall Street Analyst Weigh In

SU has been the topic of several research reports. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada raised their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Buy” and a consensus price target of $71.67.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.