M&T Bank Corp Sells 1,829 Shares of Suncor Energy Inc. (NYSE:SU)

M&T Bank Corp cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,627 shares of the oil and gas producer’s stock after selling 1,829 shares during the period. M&T Bank Corp’s holdings in Suncor Energy were worth $451,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC boosted its holdings in shares of Suncor Energy by 2.3% in the fourth quarter. HighTower Advisors LLC now owns 34,012 shares of the oil and gas producer’s stock worth $1,214,000 after acquiring an additional 763 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Suncor Energy by 32.0% in the fourth quarter. Farther Finance Advisors LLC now owns 6,292 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 1,524 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Suncor Energy by 9.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 47,345 shares of the oil and gas producer’s stock worth $1,689,000 after acquiring an additional 4,057 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Suncor Energy by 17.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 71,712 shares of the oil and gas producer’s stock worth $2,559,000 after acquiring an additional 10,644 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Suncor Energy by 69.7% in the fourth quarter. Corient Private Wealth LLC now owns 748,865 shares of the oil and gas producer’s stock worth $26,720,000 after acquiring an additional 307,469 shares during the period. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $39.17 on Thursday. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The firm has a market cap of $47.90 billion, a P/E ratio of 11.29, a PEG ratio of 3.38 and a beta of 0.80. The company has a 50 day moving average of $37.56 and a 200 day moving average of $37.22. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21.

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

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were paid a $0.4133 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 annualized dividend and a yield of 4.22%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is presently 47.84%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SU shares. Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.