Suncor Energy Inc. (NYSE:SU) Shares Sold by NewGen Asset Management Ltd

NewGen Asset Management Ltd lessened its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 97.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the oil and gas producer's stock after selling 166,000 shares during the period. Suncor Energy makes up 0.1% of NewGen Asset Management Ltd's investment portfolio, making the stock its 26th largest position. NewGen Asset Management Ltd's holdings in Suncor Energy were worth $143,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd grew its stake in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after buying an additional 256 shares during the last quarter. Principal Securities Inc. lifted its holdings in Suncor Energy by 2.2% in the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer's stock valued at $443,000 after acquiring an additional 265 shares during the period. Stifel Financial Corp boosted its position in shares of Suncor Energy by 0.3% during the 4th quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer's stock worth $3,408,000 after purchasing an additional 265 shares in the last quarter. X Square Capital LLC lifted its stake in shares of Suncor Energy by 0.3% in the fourth quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer's stock valued at $2,951,000 after purchasing an additional 267 shares during the period. Finally, UMB Bank n.a. increased its stake 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 valued at $50,000 after purchasing an additional 300 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

NYSE:SU opened at $35.58 on Friday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.95. The firm has a market capitalization of $44.02 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The firm has a 50-day moving average price of $36.23 and a 200 day moving average price of $37.69. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

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 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.49%. Suncor Energy's payout ratio is currently 45.51%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SU. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. StockNews.com downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Finally, Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.20.

Suncor Energy 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.

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