Suncor Energy Inc. $SU Stock Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,591,208 shares of the oil and gas producer’s stock after selling 66,306 shares during the quarter. Suncor Energy accounts for about 2.1% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 8th biggest holding. TD Waterhouse Canada Inc. owned about 0.99% of Suncor Energy worth $799,716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SU. Cardinal Capital Management Inc. raised its holdings in shares of Suncor Energy by 101.0% in the third quarter. Cardinal Capital Management Inc. now owns 6,331,336 shares of the oil and gas producer’s stock valued at $430,430,000 after purchasing an additional 3,181,648 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in shares of Suncor Energy by 43.4% in the third quarter. Triasima Portfolio Management inc. now owns 58,466 shares of the oil and gas producer’s stock worth $3,974,000 after purchasing an additional 17,681 shares in the last quarter. Ninety One UK Ltd boosted its holdings in Suncor Energy by 29.9% during the third quarter. Ninety One UK Ltd now owns 851,994 shares of the oil and gas producer’s stock worth $57,910,000 after purchasing an additional 195,952 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in Suncor Energy during the third quarter worth $204,000. Finally, Mitchell & Pahl Private Wealth LLC grew its position in Suncor Energy by 2.2% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 25,223 shares of the oil and gas producer’s stock valued at $1,712,000 after purchasing an additional 531 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SU. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings raised Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Finally, Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $79.62.

Suncor Energy Stock Up 2.9%

Shares of NYSE:SU traded up $2.16 during midday trading on Friday, hitting $77.80. The stock had a trading volume of 5,751,511 shares, compared to its average volume of 3,468,628. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $79.65. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $68.57 and its 200-day simple moving average is $64.78. The company has a market cap of $90.99 billion, a P/E ratio of 14.33, a PEG ratio of 0.50 and a beta of 0.36.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, sell-side analysts forecast that Suncor Energy Inc. will post 8.12 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of C$0.60 per share. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. Suncor Energy’s payout ratio is currently 31.86%.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.