Bank of New York Mellon Corp Boosts Stock Position in Suncor Energy Inc. (NYSE:SU)

Bank of New York Mellon Corp boosted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 104.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,083,440 shares of the oil and gas producer's stock after acquiring an additional 1,573,726 shares during the quarter. Bank of New York Mellon Corp owned 0.25% of Suncor Energy worth $110,017,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SU. HHM Wealth Advisors LLC grew its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after acquiring an additional 325 shares during the period. Golden State Wealth Management LLC purchased a new stake in Suncor Energy in the fourth quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new stake in Suncor Energy in the 4th quarter worth approximately $45,000. UMB Bank n.a. grew its position in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer's stock worth $50,000 after purchasing an additional 300 shares during the period. Finally, Allworth Financial LP raised its stake in Suncor Energy by 35.4% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the oil and gas producer's stock valued at $75,000 after buying an additional 497 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on SU. Royal Bank of Canada restated an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. StockNews.com lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Finally, Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down $1.15 on Monday, hitting $37.13. 6,960,584 shares of the company traded hands, compared to its average volume of 4,458,558. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The business has a 50-day simple moving average of $38.28 and a 200 day simple moving average of $38.60. Suncor Energy Inc. has a 52 week low of $34.12 and a 52 week high of $41.94. The stock has a market capitalization of $46.21 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating 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%. Research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.30%. Suncor Energy's dividend payout ratio is currently 45.22%.

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.