Suncor Energy Inc. $SU Shares Sold by Canoe Financial LP

Canoe Financial LP reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,300 shares of the oil and gas producer’s stock after selling 102,200 shares during the period. Canoe Financial LP’s holdings in Suncor Energy were worth $7,061,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SU. Acadian Asset Management LLC lifted its position in Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after acquiring an additional 12,318,559 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Suncor Energy by 38.5% during the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after purchasing an additional 9,378,552 shares during the period. Fisher Asset Management LLC boosted its position in Suncor Energy by 49.6% in the second quarter. Fisher Asset Management LLC now owns 8,372,012 shares of the oil and gas producer’s stock valued at $313,532,000 after buying an additional 2,777,150 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after buying an additional 2,406,000 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Suncor Energy in the 2nd quarter worth approximately $74,767,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 0.2%

SU stock opened at $43.24 on Friday. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $45.60. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market cap of $51.96 billion, a P/E ratio of 14.18 and a beta of 0.46. The company’s 50-day simple moving average is $42.65 and its 200-day simple moving average is $40.88.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same quarter in the previous year, the business earned $1.48 EPS. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is currently 56.39%.

Wall Street Analyst Weigh In

SU has been the subject of several research reports. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Wells Fargo & Company started coverage on Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating on the stock. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $65.00.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.