Mediolanum International Funds Ltd Trims Holdings in Suncor Energy Inc. $SU

Key Points

• Mediolanum International Funds Ltd cut its Suncor Energy stake by 28.3% in Q1, selling 109,140 shares and leaving it with 276,968 shares valued at about $18.3 million.
• Wall Street sentiment on Suncor is generally positive, with analysts giving it an average “Buy” rating and a consensus target price of $71.67; several firms recently upgraded the stock.
• Suncor reported quarterly EPS of $1.41, missing estimates, but revenue topped expectations at $10.41 billion. The company also paid a quarterly dividend of $0.60, implying an annual yield of about 3.8%.

Mediolanum International Funds Ltd lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 28.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 276,968 shares of the oil and gas producer's stock after selling 109,140 shares during the period. Mediolanum International Funds Ltd's holdings in Suncor Energy were worth $18,293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Suncor Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock valued at $2,473,173,000 after buying an additional 1,166,405 shares during the last quarter. FIL Ltd boosted its stake in shares of Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer's stock worth $934,312,000 after buying an additional 2,592,516 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Suncor Energy by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer's stock worth $860,933,000 after buying an additional 516,783 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Suncor Energy by 8.3% during the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer's stock worth $746,176,000 after buying an additional 1,289,959 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Suncor Energy by 17.5% during the fourth quarter. Morgan Stanley now owns 12,877,899 shares of the oil and gas producer's stock worth $571,264,000 after buying an additional 1,917,612 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SU. Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Weiss Ratings cut Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Zacks Research raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy has an average rating of "Buy" and an average target price of $71.67.

Suncor Energy Stock Up 0.0%

Suncor Energy stock opened at $62.45 on Monday. The stock's 50 day moving average price is $61.11 and its 200 day moving average price is $58.78. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a market cap of $73.73 billion, a PE ratio of 16.39 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion during the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter in the previous year, the company posted $1.31 EPS. On average, sell-side analysts predict that Suncor Energy Inc. will post 6.9 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, June 4th. Suncor Energy's dividend payout ratio (DPR) is currently 45.67%.

Suncor Energy Company 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.

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