Mufg Securities Canada LTD. Sells 73,481 Shares of Suncor Energy Inc. $SU

Mufg Securities Canada LTD. trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,007,606 shares of the oil and gas producer’s stock after selling 73,481 shares during the quarter. Suncor Energy comprises about 2.3% of Mufg Securities Canada LTD.’s holdings, making the stock its 17th biggest position. Mufg Securities Canada LTD. owned 0.17% of Suncor Energy worth $84,004,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. boosted its position in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares in the last quarter. Headlands Technologies LLC bought a new position in Suncor Energy in the second quarter worth approximately $31,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Suncor Energy in the second quarter valued at approximately $37,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

NYSE SU opened at $56.50 on Friday. The company has a fifty day moving average price of $50.46 and a 200-day moving average price of $44.77. The firm has a market cap of $67.23 billion, a price-to-earnings ratio of 16.28 and a beta of 0.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $57.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.79 billion. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s payout ratio is presently 49.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SU. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.00.

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.