Suncor Energy Inc. $SU Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,040,499 shares of the oil and gas producer’s stock after selling 132,348 shares during the quarter. Suncor Energy makes up 0.8% of TD Asset Management Inc’s investment portfolio, making the stock its 27th biggest position. TD Asset Management Inc’s holdings in Suncor Energy were worth $1,023,985,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new position in Suncor Energy in the 4th quarter worth $371,000. CIBC Asset Management Inc lifted its holdings in Suncor Energy by 12.8% in the 4th quarter. CIBC Asset Management Inc now owns 9,851,109 shares of the oil and gas producer’s stock worth $439,546,000 after buying an additional 1,120,193 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new position in Suncor Energy in the 4th quarter worth $405,000. One Capital Management LLC acquired a new position in Suncor Energy in the 4th quarter worth $940,000. Finally, Clear Harbor Asset Management LLC lifted its holdings in Suncor Energy by 1.1% in the 4th quarter. Clear Harbor Asset Management LLC now owns 22,840 shares of the oil and gas producer’s stock worth $1,013,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $65.57 on Thursday. The firm has a market cap of $77.42 billion, a PE ratio of 17.21 and a beta of 0.27. The firm’s 50-day simple moving average is $65.33 and its 200-day simple moving average is $55.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a 1 year low of $35.93 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the company posted $1.31 EPS. Equities analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is currently 46.19%.

Wall Street Analyst Weigh In

SU has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.