Horizon Kinetics Asset Management LLC Increases Stock Position in Suncor Energy Inc. (NYSE:SU)

Horizon Kinetics Asset Management LLC increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 33.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,044 shares of the oil and gas producer’s stock after acquiring an additional 19,700 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Suncor Energy were worth $2,881,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after acquiring an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Suncor Energy by 1.6% during the second 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 period. Toronto Dominion Bank lifted its holdings in shares of Suncor Energy by 3.4% in the 2nd 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 lifted its holdings in Suncor Energy by 1.3% in 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 acquiring an additional 180,533 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.3 %

Shares of NYSE SU opened at $41.66 on Monday. 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 Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a market cap of $52.42 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 2.74 and a beta of 1.12. The business has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $38.86.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.93%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 35.29%.

Wall Street Analysts Forecast Growth

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

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.