Morgan Stanley Has $112.41 Million Position in Suncor Energy Inc. (SU)
Morgan Stanley boosted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,763,373 shares of the oil and gas producer’s stock after buying an additional 163,606 shares during the quarter. Morgan Stanley owned approximately 0.17% of Suncor Energy worth $112,414,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Natixis increased its position in shares of Suncor Energy by 109.2% in the 2nd quarter. Natixis now owns 23,172 shares of the oil and gas producer’s stock valued at $943,000 after buying an additional 12,093 shares in the last quarter. First Republic Investment Management Inc. increased its holdings in Suncor Energy by 9.5% during the 2nd quarter. First Republic Investment Management Inc. now owns 397,311 shares of the oil and gas producer’s stock worth $16,163,000 after purchasing an additional 34,545 shares in the last quarter. Raymond James & Associates increased its holdings in Suncor Energy by 18.9% during the 2nd quarter. Raymond James & Associates now owns 843,032 shares of the oil and gas producer’s stock worth $34,300,000 after purchasing an additional 133,774 shares in the last quarter. Shepherd Kaplan Krochuk LLC bought a new position in Suncor Energy during the 2nd quarter worth about $216,000. Finally, BB&T Securities LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $224,000. 65.14% of the stock is currently owned by hedge funds and other institutional investors.
Suncor Energy stock traded up $1.08 during mid-day trading on Friday, reaching $36.64. The company had a trading volume of 4,436,954 shares, compared to its average volume of 3,343,692. The firm has a market capitalization of $62.58 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.54 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.90 and a quick ratio of 0.56. Suncor Energy Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $42.55.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th were issued a $0.274 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.10 annualized dividend and a yield of 2.99%. Suncor Energy’s payout ratio is 72.85%.
Several equities research analysts recently issued reports on SU shares. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, October 8th. Mizuho initiated coverage on shares of Suncor Energy in a report on Monday, July 23rd. They issued a “buy” rating on the stock. ValuEngine cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. JPMorgan Chase & Co. cut shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 11th. Finally, Macquarie raised shares of Suncor Energy from a “neutral” rating to an “outperform” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Suncor Energy presently has a consensus rating of “Buy” and a consensus price target of $49.43.
About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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