Envestnet Asset Management Inc. Sells 10,129 Shares of Suncor Energy Inc. (NYSE:SU)

Envestnet Asset Management Inc. reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609,027 shares of the oil and gas producer’s stock after selling 10,129 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Suncor Energy were worth $23,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of SU. Principal Financial Group Inc. raised its stake in shares of Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after acquiring an additional 6,311,513 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Suncor Energy by 500.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock valued at $87,459,000 after acquiring an additional 2,044,680 shares during the period. Geode Capital Management LLC raised its stake in shares of Suncor Energy by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer’s stock valued at $278,537,000 after acquiring an additional 1,737,573 shares during the period. Two Sigma Investments LP grew its holdings in shares of Suncor Energy by 168.8% in the fourth quarter. Two Sigma Investments LP now owns 1,729,654 shares of the oil and gas producer’s stock worth $61,714,000 after purchasing an additional 1,086,065 shares during the last quarter. Finally, Mufg Securities Canada LTD. increased its stake in Suncor Energy by 70.3% in the 4th quarter. Mufg Securities Canada LTD. now owns 1,919,654 shares of the oil and gas producer’s stock worth $68,477,000 after buying an additional 792,130 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $39.43 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a fifty day moving average price of $37.45 and a 200 day moving average price of $37.21. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.95. The company has a market cap of $48.21 billion, a PE ratio of 11.36, a P/E/G ratio of 3.46 and a beta of 0.80.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $9.10 billion for the quarter, compared to the consensus estimate of $13.39 billion. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. During the same period in the previous year, the business earned $1.41 earnings per share. Sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a $0.4133 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.19%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is presently 47.84%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SU shares. Wall Street Zen cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Suncor Energy Company Profile

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.