Envestnet Asset Management Inc. Has $22.09 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Envestnet Asset Management Inc. cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 619,156 shares of the oil and gas producer's stock after selling 30,103 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Suncor Energy were worth $22,091,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Suncor Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock worth $1,892,526,000 after purchasing an additional 323,714 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings 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 worth $865,885,000 after buying an additional 169,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 acquiring an additional 209,447 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Suncor Energy by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer's stock valued at $361,227,000 after acquiring an additional 437,252 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer's stock valued at $346,298,000 after acquiring an additional 2,767,043 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SU shares. Royal Bank of Canada reissued an "outperform" rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Bank of America initiated coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a "neutral" rating on the stock. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Finally, Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Suncor Energy presently has an average rating of "Moderate Buy" and an average price target of $59.20.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up $0.67 during midday trading on Friday, hitting $34.48. 3,015,187 shares of the company traded hands, compared to its average volume of 4,476,006. The firm's fifty day moving average price is $36.79 and its 200-day moving average price is $37.88. The stock has a market cap of $42.66 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month 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 posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a $0.399 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.63%. Suncor Energy's dividend payout ratio is presently 45.51%.

Suncor Energy Company Profile

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.