Suncor Energy Inc. $SU Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. cut its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 760,866 shares of the oil and gas producer’s stock after selling 25,514 shares during the quarter. Suncor Energy makes up 1.2% of Addenda Capital Inc.’s investment portfolio, making the stock its 26th biggest holding. Addenda Capital Inc. owned about 0.06% of Suncor Energy worth $33,752,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SU. Sagespring Wealth Partners LLC raised its position in Suncor Energy by 3.8% in the fourth quarter. Sagespring Wealth Partners LLC now owns 6,584 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 242 shares during the period. Archford Capital Strategies LLC increased its holdings in Suncor Energy by 1.2% in the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock valued at $987,000 after buying an additional 272 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. D Orazio & Associates Inc. increased its holdings in Suncor Energy by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer’s stock valued at $305,000 after buying an additional 275 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Suncor Energy by 10.5% in the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock valued at $123,000 after buying an additional 280 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Down 3.4%

SU stock opened at $64.50 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $67.76. The company has a 50-day moving average of $58.95 and a two-hundred day moving average of $48.97. The stock has a market capitalization of $76.56 billion, a price-to-earnings ratio of 18.59 and a beta of 0.32.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 50.72%.

Analyst Ratings Changes

A number of equities analysts have commented on SU shares. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their target price on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $72.00.

About Suncor Energy

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.