Principal Financial Group Inc. Buys 1,153,424 Shares of Suncor Energy Inc. (NYSE:SU)

Principal Financial Group Inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 25.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,643,431 shares of the oil and gas producer’s stock after acquiring an additional 1,153,424 shares during the quarter. Principal Financial Group Inc. owned approximately 0.44% of Suncor Energy worth $215,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanders Capital LLC boosted its stake in shares of Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after acquiring an additional 1,568,629 shares during the period. Vanguard Group Inc. grew its holdings in Suncor Energy by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after buying an additional 691,497 shares in the last quarter. TD Asset Management Inc raised its position in shares of Suncor Energy by 16.8% during the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after buying an additional 4,612,764 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after buying an additional 1,725,969 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of 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 worth $817,835,000 after acquiring an additional 868,475 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 1.0 %

SU traded down $0.43 during trading on Friday, reaching $40.54. The company had a trading volume of 2,311,267 shares, compared to its average volume of 4,403,604. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The stock has a market cap of $51.50 billion, a P/E ratio of 9.03, a PEG ratio of 2.86 and a beta of 1.12. The business has a 50 day simple moving average of $39.00 and a 200-day simple moving average of $37.85.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Suncor Energy Inc. will post 3.64 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 35.63%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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. The Goldman Sachs Group boosted their target price on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Wolfe Research began coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Scotiabank lowered their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.86.

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.