Suncor Energy Inc. $SU Shares Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd decreased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 398,378 shares of the oil and gas producer’s stock after selling 10,381 shares during the quarter. Suncor Energy accounts for about 3.5% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings, making the stock its 9th biggest holding. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in Suncor Energy were worth $27,038,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SU. HighTower Advisors LLC raised its position in shares of Suncor Energy by 255.0% in the 2nd quarter. HighTower Advisors LLC now owns 78,316 shares of the oil and gas producer’s stock worth $4,204,000 after acquiring an additional 56,254 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Suncor Energy by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after purchasing an additional 411,243 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Suncor Energy by 6.3% during the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock valued at $55,802,000 after purchasing an additional 50,502 shares in the last quarter. Bank of America Corp DE bought a new stake in Suncor Energy during the second quarter valued at about $351,892,000. Finally, TD Waterhouse Canada Inc. boosted its position in Suncor Energy by 2.1% during the second quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock valued at $625,497,000 after purchasing an additional 239,208 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

SU opened at $77.56 on Thursday. 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 company has a market cap of $90.71 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.27 and a beta of 0.36. Suncor Energy Inc. has a 52-week low of $38.72 and a 52-week high of $80.25. The firm’s fifty day simple moving average is $70.62 and its two-hundred day simple moving average is $62.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. The business 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 quarter last year, the business earned $0.71 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 8.76 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a C$0.60 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. Suncor Energy’s dividend payout ratio (DPR) is currently 31.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a report on Wednesday, August 19th. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $79.62.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.