Stock Yards Bank & Trust Co. Reduces Stake in Suncor Energy Inc. (NYSE:SU)

Stock Yards Bank & Trust Co. lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% in the 4th quarter, HoldingsChannel reports. The fund owned 129,893 shares of the oil and gas producer’s stock after selling 2,802 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Suncor Energy were worth $4,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC purchased a new position in Suncor Energy in the third quarter worth about $29,000. Optiver Holding B.V. purchased a new position in Suncor Energy in the third quarter worth about $29,000. Headinvest LLC purchased a new position in Suncor Energy in the third quarter worth about $40,000. Private Trust Co. NA boosted its position in shares of Suncor Energy by 38.4% during the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 339 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 1.4 %

Shares of NYSE:SU opened at $39.08 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a market capitalization of $50.30 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 3.40 and a beta of 1.13. The business has a 50 day simple moving average of $35.88 and a two-hundred day simple moving average of $33.74. Suncor Energy Inc. has a 1 year low of $27.59 and a 1 year high of $39.34.

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

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a $0.406 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.16%. Suncor Energy’s payout ratio is presently 34.26%.

Analyst Ratings Changes

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

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.