First Trust Advisors LP Buys 51,486 Shares of Suncor Energy Inc. (NYSE:SU)

First Trust Advisors LP grew its stake in Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) by 11.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 503,830 shares of the oil and gas producer’s stock after acquiring an additional 51,486 shares during the quarter. First Trust Advisors LP’s holdings in Suncor Energy were worth $15,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Suncor Energy by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 48,285,003 shares of the oil and gas producer’s stock valued at $1,573,608,000 after acquiring an additional 702,121 shares during the last quarter. Sanders Capital LLC increased its stake in Suncor Energy by 2.6% during the 3rd quarter. Sanders Capital LLC now owns 34,070,358 shares of the oil and gas producer’s stock worth $959,081,000 after purchasing an additional 859,527 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Suncor Energy by 79.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock worth $548,183,000 after purchasing an additional 7,438,559 shares in the last quarter. National Bank of Canada FI increased its stake in Suncor Energy by 688.5% during the 4th quarter. National Bank of Canada FI now owns 16,652,604 shares of the oil and gas producer’s stock worth $528,094,000 after purchasing an additional 14,540,653 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Suncor Energy by 21.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 15,392,254 shares of the oil and gas producer’s stock worth $433,459,000 after purchasing an additional 2,677,500 shares in the last quarter. 58.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the subject of a number of research reports. Scotiabank cut Suncor Energy from a “sector outperform” rating to a “sector perform” rating in a research note on Tuesday, March 21st. TD Securities increased their target price on Suncor Energy from C$52.00 to C$53.00 in a research note on Wednesday, February 15th. National Bank Financial raised Suncor Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 28th. Finally, StockNews.com began coverage on shares of Suncor Energy in a research note on Thursday, May 18th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.57.

Suncor Energy Price Performance

Shares of SU opened at $28.83 on Tuesday. The stock has a market capitalization of $37.83 billion, a P/E ratio of 6.38, a P/E/G ratio of 0.62 and a beta of 1.28. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a twelve month low of $26.42 and a twelve month high of $42.72. The company has a 50 day moving average of $30.31 and a 200-day moving average of $32.13.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Monday, June 5th will be issued a $0.384 dividend. This represents a $1.54 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, June 2nd. Suncor Energy’s payout ratio is presently 33.63%.

Suncor Energy Profile

(Get Rating)

Suncor Energy, Inc is an integrated energy company, which engages in the development of petroleum resource basins. It operates through the following segments: Oil Sands, Exploration and Production, Refining and Marketing, and Corporate and Eliminations. The Oil Sands segment operates assets in the Athabasca oil sands of northeast Alberta.