Guinness Asset Management LTD Sells 50,831 Shares of Suncor Energy Inc. (NYSE:SU)

Guinness Asset Management LTD lowered its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 337,091 shares of the oil and gas producer's stock after selling 50,831 shares during the quarter. Guinness Asset Management LTD's holdings in Suncor Energy were worth $11,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in Suncor Energy by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 656,635 shares of the oil and gas producer's stock valued at $25,018,000 after acquiring an additional 36,069 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Suncor Energy by 15.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 43,191 shares of the oil and gas producer's stock valued at $1,640,000 after purchasing an additional 5,856 shares during the period. King Luther Capital Management Corp purchased a new position in Suncor Energy in the 2nd quarter worth approximately $1,377,000. Sei Investments Co. boosted its stake in Suncor Energy by 57.8% in the 2nd quarter. Sei Investments Co. now owns 248,867 shares of the oil and gas producer's stock worth $9,482,000 after purchasing an additional 91,163 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in Suncor Energy during the 2nd quarter valued at approximately $1,316,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SU. Royal Bank of Canada reissued an "outperform" rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Desjardins upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley downgraded Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Suncor Energy Trading Down 0.1 %

Shares of SU traded down $0.05 during midday trading on Monday, hitting $39.02. The stock had a trading volume of 4,446,089 shares, compared to its average volume of 3,170,446. The stock's 50 day moving average is $38.07 and its 200 day moving average is $38.52. The firm has a market cap of $48.57 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 3.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy Inc. has a 1 year low of $31.03 and a 1 year high of $41.94.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.4089 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy's payout ratio is currently 35.08%.

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.