TD Waterhouse Canada Inc. Cuts Holdings in Suncor Energy Inc. $SU

Key Points

• TD Waterhouse Canada Inc. trimmed its stake in Suncor Energy by 3.3% in the fourth quarter to 4,335,563 shares (about 0.36% of Suncor), representing roughly 1.2% of TD Waterhouse’s holdings and $192.2M in value.
• Other institutions including AQR, AXA and NewEdge increased positions, and hedge funds/institutions now own 67.37% of Suncor’s outstanding stock.
• Wall Street is largely bullish — multiple upgrades and a consensus "Buy" rating with an average target of $72 — while Suncor yields 3.9% and recently posted a slight EPS beat ($0.79 vs. $0.77 estimate).

TD Waterhouse Canada Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,335,563 shares of the oil and gas producer's stock after selling 149,071 shares during the period. Suncor Energy makes up about 1.2% of TD Waterhouse Canada Inc.'s holdings, making the stock its 22nd biggest holding. TD Waterhouse Canada Inc. owned 0.36% of Suncor Energy worth $192,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SU. AQR Capital Management LLC grew its stake in Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock worth $959,000 after buying an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after buying an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after buying an additional 464 shares in the last quarter. AXA S.A. grew its stake in Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock worth $1,883,000 after buying an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock worth $2,514,000 after buying an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SU. ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Royal Bank Of Canada upped their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Suncor Energy in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $72.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $61.14 on Monday. Suncor Energy Inc. has a 52-week low of $33.50 and a 52-week high of $67.76. The stock has a market capitalization of $72.40 billion, a price-to-earnings ratio of 17.62 and a beta of 0.32. The company has a fifty day moving average of $60.39 and a 200-day moving average of $50.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the company earned $1.25 EPS. Equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 3.9%. Suncor Energy's dividend payout ratio is presently 50.43%.

Suncor Energy 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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