Peapack Gladstone Financial Corp Invests $206,000 in Suncor Energy Inc. (NYSE:SU)

Peapack Gladstone Financial Corp acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,583 shares of the oil and gas producer’s stock, valued at approximately $206,000.

A number of other institutional investors also recently made changes to their positions in SU. Cullen Investment Group LTD. boosted its stake in shares of Suncor Energy by 0.8% in the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after buying an additional 262 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Suncor Energy by 6.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 281 shares during the period. Blue Trust Inc. increased its position 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 purchasing an additional 325 shares during the period. Richardson Financial Services Inc. raised its stake in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Suncor Energy by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock worth $276,000 after purchasing an additional 354 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SU. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $36.26 on Tuesday. The stock has a market cap of $45.62 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 2.43 and a beta of 1.11. Suncor Energy Inc. has a twelve month low of $31.03 and a twelve month high of $41.94. The company’s fifty day moving average is $39.07 and its 200 day moving average is $38.69. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.51%. Suncor Energy’s dividend payout ratio is presently 36.60%.

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.