Addenda Capital Inc. Has $31.42 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Addenda Capital Inc. lowered its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 811,534 shares of the oil and gas producer's stock after selling 65,012 shares during the period. Suncor Energy accounts for approximately 1.5% of Addenda Capital Inc.'s portfolio, making the stock its 20th biggest holding. Addenda Capital Inc. owned 0.07% of Suncor Energy worth $31,423,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. HHM Wealth Advisors LLC boosted its stake in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after buying an additional 325 shares during the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Suncor Energy in the 4th quarter worth about $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the 4th quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy in the 4th quarter worth about $39,000. Finally, Covestor Ltd raised its holdings in shares of Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.50 during mid-day trading on Thursday, reaching $36.83. The stock had a trading volume of 1,889,095 shares, compared to its average volume of 4,441,941. The firm's 50 day simple moving average is $35.20 and its 200 day simple moving average is $37.05. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95. The firm has a market cap of $45.41 billion, a PE ratio of 10.68, a P/E/G ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the previous year, the company posted $1.41 EPS. On average, analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a $0.4133 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 annualized dividend and a yield of 4.49%. Suncor Energy's payout ratio is presently 45.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Scotiabank upgraded Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Finally, Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.67.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.