Bank of New York Mellon Corp Buys 409,032 Shares of Suncor Energy Inc. (NYSE:SU)

Bank of New York Mellon Corp boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 13.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,492,472 shares of the oil and gas producer's stock after purchasing an additional 409,032 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.28% of Suncor Energy worth $135,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SU. Hanson & Doremus Investment Management increased its holdings in shares of Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after buying an additional 405 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in Suncor Energy during the 4th quarter worth $35,000. Lee Danner & Bass Inc. bought a new position in Suncor Energy during the 4th quarter worth $36,000. Finally, Covestor Ltd grew its stake in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after buying an additional 256 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SU. Scotiabank upgraded Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four investment 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

Suncor Energy Stock Performance

Suncor Energy stock traded up $0.44 during trading hours on Wednesday, hitting $39.26. The stock had a trading volume of 4,947,862 shares, compared to its average volume of 4,465,210. The company has a 50-day moving average of $37.03 and a two-hundred day moving average of $37.06. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. The company has a market cap of $48.00 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 3.14 and a beta of 0.80. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The firm had revenue of $9.10 billion during the quarter, compared to analysts' expectations of $13.39 billion. During the same period last year, the firm posted $1.41 EPS. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were given a $0.4133 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.21%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, June 4th. Suncor Energy's dividend payout ratio (DPR) is presently 47.55%.

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.