Suncor Energy Inc. (NYSE:SU) is Ninepoint Partners LP’s 5th Largest Position

Ninepoint Partners LP cut its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 55.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000,000 shares of the oil and gas producer’s stock after selling 1,250,000 shares during the quarter. Suncor Energy accounts for 3.4% of Ninepoint Partners LP’s portfolio, making the stock its 5th largest position. Ninepoint Partners LP owned 0.08% of Suncor Energy worth $32,040,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SU. Vanguard Group Inc. raised its holdings in shares of Suncor Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after purchasing an additional 731,163 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Suncor Energy by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 20,658,847 shares of the oil and gas producer’s stock worth $709,835,000 after purchasing an additional 1,356,470 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Suncor Energy by 1.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 20,348,705 shares of the oil and gas producer’s stock worth $699,750,000 after acquiring an additional 377,500 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Suncor Energy by 4.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,194,858 shares of the oil and gas producer’s stock valued at $663,794,000 after purchasing an additional 762,271 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Suncor Energy by 9.2% during the 3rd quarter. Mackenzie Financial Corp now owns 18,430,549 shares of the oil and gas producer’s stock valued at $618,071,000 after purchasing an additional 1,558,350 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SU has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.00.

Suncor Energy Stock Up 1.9 %

Shares of NYSE SU traded up $0.74 during mid-day trading on Friday, reaching $38.79. The company had a trading volume of 1,738,884 shares, compared to its average volume of 4,317,424. The stock has a fifty day moving average of $35.62 and a two-hundred day moving average of $33.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The company has a market capitalization of $49.93 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 3.34 and a beta of 1.13. Suncor Energy Inc. has a 12-month low of $27.59 and a 12-month high of $39.32.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter last year, the firm earned $1.33 earnings per share. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were given a dividend of $0.406 per share. This represents a $1.62 annualized dividend and a yield of 4.19%. The ex-dividend date was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio (DPR) is presently 34.26%.

About Suncor Energy

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.