Suncor Energy Inc. (NYSE:SU) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,706,616 shares of the oil and gas producer’s stock after buying an additional 2,767,043 shares during the period. Principal Financial Group Inc.’s holdings in Suncor Energy were worth $346,298,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after buying an additional 3,225,543 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after buying an additional 1,829,936 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Suncor Energy by 136.2% during the third quarter. Fisher Asset Management LLC now owns 1,891,781 shares of the oil and gas producer’s stock valued at $69,845,000 after purchasing an additional 1,090,988 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Suncor Energy in the third quarter valued at approximately $23,286,000. Finally, Bridgewater Associates LP raised its position in Suncor Energy by 113.4% in the 3rd quarter. Bridgewater Associates LP now owns 983,633 shares of the oil and gas producer’s stock worth $36,347,000 after purchasing an additional 522,635 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the subject of several research analyst reports. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.53 on Monday. Suncor Energy Inc. has a 52 week low of $31.46 and a 52 week high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $37.73 and a 200-day moving average price of $38.60. The firm has a market capitalization of $49.20 billion, a PE ratio of 11.46, a P/E/G ratio of 2.96 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.25 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 46.67%.

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.