Canada Pension Plan Investment Board Decreases Holdings in Suncor Energy Inc. (NYSE:SU)

Canada Pension Plan Investment Board trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 24.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,386,235 shares of the oil and gas producer's stock after selling 2,066,900 shares during the quarter. Canada Pension Plan Investment Board owned about 0.51% of Suncor Energy worth $227,664,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP boosted its stake in Suncor Energy by 445.5% in the fourth quarter. Marshall Wace LLP now owns 388,120 shares of the oil and gas producer's stock valued at $13,848,000 after buying an additional 316,977 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Suncor Energy by 12.6% in the 4th quarter. NewEdge Advisors LLC now owns 54,845 shares of the oil and gas producer's stock valued at $1,957,000 after purchasing an additional 6,152 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Suncor Energy by 58.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 230,179 shares of the oil and gas producer's stock valued at $8,206,000 after purchasing an additional 84,463 shares during the last quarter. Guggenheim Capital LLC increased its position in Suncor Energy by 8.9% during the 4th quarter. Guggenheim Capital LLC now owns 10,759 shares of the oil and gas producer's stock worth $384,000 after purchasing an additional 878 shares in the last quarter. Finally, Mariner LLC lifted its stake in Suncor Energy by 3.7% in the 4th quarter. Mariner LLC now owns 63,918 shares of the oil and gas producer's stock valued at $2,280,000 after purchasing an additional 2,310 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Wall Street Analyst Weigh In

SU has been the topic of a number of recent research reports. StockNews.com lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Scotiabank raised Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Finally, Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a "neutral" rating for the company. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Suncor Energy Stock Performance

NYSE SU traded up $0.67 on Friday, hitting $34.48. 3,015,187 shares of the stock traded hands, compared to its average volume of 4,473,333. 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's fifty day moving average is $36.67 and its two-hundred day moving average is $37.85. 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 $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 (NYSE:SU - Get Free Report) TSE: SU last issued 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, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were paid a dividend of $0.399 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.63%. Suncor Energy's payout ratio is 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.