The Manufacturers Life Insurance Company Purchases 27,330 Shares of Suncor Energy Inc. (NYSE:SU)

The Manufacturers Life Insurance Company increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,161,479 shares of the oil and gas producer’s stock after buying an additional 27,330 shares during the quarter. Suncor Energy comprises 0.8% of The Manufacturers Life Insurance Company’s holdings, making the stock its 16th largest position. The Manufacturers Life Insurance Company’s holdings in Suncor Energy were worth $929,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after acquiring an additional 366,432 shares during the last quarter. Toronto Dominion Bank boosted its position in Suncor Energy by 3.4% during the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock valued at $693,906,000 after buying an additional 605,833 shares during the period. CIBC Asset Management Inc grew its stake in shares of Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after buying an additional 180,533 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Suncor Energy by 23.3% in 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 during the period. Finally, National Bank of Canada FI lifted its stake in shares of Suncor Energy by 60.7% in the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Down 2.1 %

Shares of Suncor Energy stock opened at $40.67 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a market cap of $51.17 billion, a P/E ratio of 8.86, a PEG ratio of 2.74 and a beta of 1.12. The company’s fifty day simple moving average is $38.94 and its two-hundred day simple moving average is $38.86.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is presently 35.29%.

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.