Bridgewater Associates LP Buys 522,635 Shares of Suncor Energy Inc. (NYSE:SU)

Bridgewater Associates LP increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 113.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 983,633 shares of the oil and gas producer’s stock after buying an additional 522,635 shares during the quarter. Bridgewater Associates LP owned about 0.08% of Suncor Energy worth $36,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cullen Investment Group LTD. lifted its holdings in shares of Suncor Energy by 0.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after acquiring an additional 262 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Suncor Energy by 6.1% during the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 281 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Suncor Energy by 11.0% in the second quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after buying an additional 325 shares during the period. Richardson Financial Services Inc. lifted its stake in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 16.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock worth $104,000 after acquiring an additional 377 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $39.55 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company has a 50 day moving average price of $38.98 and a 200-day moving average price of $38.86. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The stock has a market capitalization of $49.76 billion, a PE ratio of 8.62, a PEG ratio of 2.69 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 dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is 35.29%.

Wall Street Analyst Weigh In

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

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.