Bank of New York Mellon Corp Has $198.44 Million Holdings in Suncor Energy Inc. $SU

Bank of New York Mellon Corp grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,001,716 shares of the oil and gas producer’s stock after purchasing an additional 173,737 shares during the quarter. Bank of New York Mellon Corp owned about 0.25% of Suncor Energy worth $198,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC raised its stake in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new stake in Suncor Energy during the second quarter valued at $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the 4th quarter worth about $32,000. Accent Capital Management LLC grew its holdings in Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the period. Finally, Maseco LLP bought a new position in shares of Suncor Energy in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $62.45 on Friday. The firm has a market capitalization of $73.73 billion, a P/E ratio of 16.39 and a beta of 0.30. The firm’s 50-day moving average price is $61.11 and its 200-day moving average price is $58.68. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the previous year, the company posted $1.31 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 6.9 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 45.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SU shares. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings cut Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $71.67.

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.