Suncor Energy Inc. $SU Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,545,404 shares of the oil and gas producer’s stock after selling 402,440 shares during the period. Suncor Energy makes up about 2.4% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 10th biggest position. Beutel Goodman & Co Ltd.’s holdings in Suncor Energy were worth $308,949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Suncor Energy in the 2nd quarter worth $816,551,000. The Manufacturers Life Insurance Company purchased a new position in Suncor Energy in the 2nd quarter valued at about $790,952,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Suncor Energy during the second quarter valued at about $466,810,000. Finally, Bank of America Corp DE acquired a new stake in shares of Suncor Energy during the second quarter valued at about $351,892,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 1.9%

SU opened at $67.41 on Tuesday. The stock has a market capitalization of $78.84 billion, a PE ratio of 9.77, a P/E/G ratio of 0.25 and a beta of 0.22. The firm’s fifty day moving average price is $71.64 and its 200 day moving average price is $63.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 12-month low of $42.09 and a 12-month high of $80.25.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, November 3rd. The oil and gas producer reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.49. The firm had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $11.85 billion. Suncor Energy had a net margin of 17.49% and a return on equity of 25.94%. During the same period in the prior year, the firm posted $1.48 EPS. As a group, research analysts expect that Suncor Energy Inc. will post 8.78 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 3rd will be paid a C$0.66 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of C$0.60. The ex-dividend date is Thursday, December 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is currently 25.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SU shares. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings raised Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $81.71.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products.

The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.

Suncor traces its roots to Great Canadian Oil Sands, which began commercial oil sands production in Alberta in 1967.