Bank of Nova Scotia lowered its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,478,793 shares of the oil and gas producer's stock after selling 2,650,217 shares during the period. Suncor Energy accounts for 0.6% of Bank of Nova Scotia's portfolio, making the stock its 26th largest holding. Bank of Nova Scotia owned about 0.76% of Suncor Energy worth $338,288,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of SU. Vanguard Group Inc. increased its position in Suncor Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock valued at $1,892,526,000 after acquiring an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Suncor Energy by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock valued at $865,885,000 after purchasing an additional 169,700 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Suncor Energy by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock valued at $831,631,000 after purchasing an additional 209,447 shares in the last quarter. Toronto Dominion Bank raised its position in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer's stock worth $684,726,000 after purchasing an additional 333,440 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Suncor Energy by 4.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer's stock worth $361,227,000 after buying an additional 437,252 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Trading Up 3.9 %
NYSE:SU traded up $1.27 during trading hours on Friday, hitting $33.48. The stock had a trading volume of 6,236,798 shares, compared to its average volume of 4,492,176. The business's 50 day moving average is $37.20 and its 200-day moving average is $37.98. The company has a market cap of $41.42 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.
Suncor Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Tuesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is presently 45.51%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a report on Wednesday. Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Finally, Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.
View Our Latest Analysis on Suncor Energy
About Suncor Energy
(
Free Report)
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.
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