AustralianSuper Pty Ltd Sells 757,490 Shares of Suncor Energy Inc. $SU

AustralianSuper Pty Ltd cut its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 35.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,369,647 shares of the oil and gas producer’s stock after selling 757,490 shares during the quarter. AustralianSuper Pty Ltd owned about 0.11% of Suncor Energy worth $57,304,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its stake in Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after acquiring an additional 9,378,552 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Suncor Energy by 49.6% in the 2nd 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 purchasing an additional 2,777,150 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Suncor Energy by 29.5% during the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock worth $395,649,000 after purchasing an additional 2,406,000 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Suncor Energy during the second quarter worth approximately $74,767,000. Finally, Vanguard Group Inc. increased its position in Suncor Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock worth $2,046,442,000 after buying an additional 1,632,247 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SU. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.67.

Suncor Energy Stock Up 1.9%

SU opened at $53.00 on Thursday. The stock has a fifty day moving average of $45.67 and a 200-day moving average of $42.37. The company has a market capitalization of $63.25 billion, a P/E ratio of 17.38 and a beta of 0.46. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $53.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the company posted $1.48 earnings per share. On average, equities analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were given a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.5%. Suncor Energy’s dividend payout ratio (DPR) is presently 56.39%.

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.