Mackenzie Financial Corp lowered its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,966,689 shares of the oil and gas producer's stock after selling 804,125 shares during the period. Mackenzie Financial Corp owned approximately 1.04% of Suncor Energy worth $462,349,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock valued at $2,421,000 after purchasing an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC purchased a new position in Suncor Energy in the fourth quarter worth approximately $300,000. J.W. Cole Advisors Inc. purchased a new position in Suncor Energy in the fourth quarter worth approximately $236,000. Bank of New York Mellon Corp lifted its stake in Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock worth $110,017,000 after acquiring an additional 1,573,726 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Suncor Energy by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer's stock worth $159,030,000 after acquiring an additional 99,669 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.
Analyst Ratings Changes
SU has been the subject of a number of recent research reports. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $64.67.
Check Out Our Latest Stock Report on SU
Suncor Energy Stock Performance
Shares of Suncor Energy stock traded down $0.34 during trading on Wednesday, reaching $35.38. The company's stock had a trading volume of 3,006,853 shares, compared to its average volume of 4,474,935. The company has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $37.18. The firm has a market cap of $43.63 billion, a PE ratio of 10.26, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its 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 for the quarter, compared to analysts' expectations of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same period 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 announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be issued a $0.4133 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.67%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy's payout ratio is presently 45.53%.
Suncor Energy Company Profile
(
Free Report)
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.
Further Reading
Before you consider Suncor Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Suncor Energy wasn't on the list.
While Suncor Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
