Mackenzie Financial Corp Sells 804,125 Shares of Suncor Energy Inc. (NYSE:SU)

Mackenzie Financial Corp reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,966,689 shares of the oil and gas producer's stock after selling 804,125 shares during the quarter. Mackenzie Financial Corp owned approximately 1.04% of Suncor Energy worth $462,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP grew its stake in shares of Suncor Energy by 72.0% in the fourth quarter. Forum Financial Management LP now owns 9,618 shares of the oil and gas producer's stock valued at $343,000 after buying an additional 4,026 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Suncor Energy in the fourth quarter valued at $423,000. Pacific Point Advisors LLC bought a new position in shares of Suncor Energy in the fourth quarter valued at $276,000. Fourth Dimension Wealth LLC bought a new position in shares of Suncor Energy in the fourth quarter valued at $78,000. Finally, Vise Technologies Inc. grew its stake in shares of Suncor Energy by 67.1% in the fourth quarter. Vise Technologies Inc. now owns 56,673 shares of the oil and gas producer's stock valued at $2,022,000 after buying an additional 22,753 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU traded down $0.02 during midday trading on Tuesday, reaching $35.69. 2,617,362 shares of the stock were exchanged, compared to its average volume of 4,480,808. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a market cap of $44.01 billion, a P/E ratio of 10.34, a PEG ratio of 2.94 and a beta of 0.79. The stock's 50 day simple moving average is $35.51 and its 200 day simple moving average is $37.19.

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

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a $0.4133 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Wednesday, June 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is 45.53%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SU shares. Wall Street Zen cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Finally, Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating for the company. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.67.

Suncor Energy Company Profile

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.