TD Asset Management Inc Purchases 4,612,764 Shares of Suncor Energy Inc. (NYSE:SU)

TD Asset Management Inc grew its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,070,496 shares of the oil and gas producer's stock after acquiring an additional 4,612,764 shares during the quarter. Suncor Energy accounts for 1.0% of TD Asset Management Inc's holdings, making the stock its 18th biggest position. TD Asset Management Inc owned 2.49% of Suncor Energy worth $1,032,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in Suncor Energy during the 4th quarter worth approximately $25,000. Optiver Holding B.V. bought a new stake in Suncor Energy during the 3rd quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. increased its stake in Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 313 shares in the last quarter. Headinvest LLC bought a new stake in Suncor Energy during the 3rd quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Suncor Energy during the 4th quarter worth approximately $46,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Up 0.9 %

Shares of NYSE SU traded up $0.36 during trading hours on Tuesday, hitting $40.66. The company had a trading volume of 6,869,783 shares, compared to its average volume of 4,350,430. The stock has a market capitalization of $52.28 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 3.71 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a 1-year low of $27.78 and a 1-year high of $41.50. The firm's 50 day moving average is $38.63 and its 200-day moving average is $34.87.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $8.64 billion. On average, analysts expect that Suncor Energy Inc. will post 3.62 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, June 4th. Suncor Energy's payout ratio is 35.19%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SU shares. TD Securities increased their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a "hold" rating in a research note on Wednesday, May 22nd. Morgan Stanley upped their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. The Goldman Sachs Group upped their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, May 23rd. Finally, StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.67.

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.