Metis Global Partners LLC Increases Position in Suncor Energy Inc. (NYSE:SU)

Metis Global Partners LLC raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,997 shares of the oil and gas producer’s stock after purchasing an additional 6,887 shares during the period. Metis Global Partners LLC’s holdings in Suncor Energy were worth $2,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SU. Assenagon Asset Management S.A. increased its position in shares of Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Suncor Energy by 97.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock valued at $133,250,000 after purchasing an additional 1,842,791 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after buying an additional 1,573,726 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, Cibc World Mkts upgraded 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 issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Up 0.2 %

Shares of NYSE:SU opened at $38.28 on Friday. The stock has a market cap of $47.64 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.94 and a beta of 1.12. The firm has a fifty day moving average price of $38.28 and a 200 day moving average price of $38.62. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 1-year low of $33.79 and a 1-year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.22%.

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.