Nuveen Asset Management LLC Cuts Position in Suncor Energy Inc. (NYSE:SU)

Nuveen Asset Management LLC lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,998,921 shares of the oil and gas producer's stock after selling 16,985 shares during the quarter. Nuveen Asset Management LLC owned about 0.24% of Suncor Energy worth $106,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Park Avenue Securities LLC grew its holdings in shares of Suncor Energy by 17.4% during the fourth quarter. Park Avenue Securities LLC now owns 19,798 shares of the oil and gas producer's stock worth $706,000 after purchasing an additional 2,940 shares in the last quarter. Merit Financial Group LLC bought a new stake in Suncor Energy in the fourth quarter valued at approximately $295,000. Arkadios Wealth Advisors raised its holdings in shares of Suncor Energy by 2.6% during the fourth quarter. Arkadios Wealth Advisors now owns 19,079 shares of the oil and gas producer's stock valued at $681,000 after acquiring an additional 487 shares in the last quarter. Nexus Investment Management ULC raised its holdings in shares of Suncor Energy by 0.5% during the fourth quarter. Nexus Investment Management ULC now owns 519,355 shares of the oil and gas producer's stock valued at $18,496,000 after acquiring an additional 2,425 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer's stock worth $50,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Analyst Ratings Changes

SU has been the subject of several analyst reports. Scotiabank raised shares of Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating on the stock. Finally, StockNews.com cut Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Performance

Shares of NYSE SU traded down $0.17 during trading on Tuesday, hitting $35.22. The company had a trading volume of 2,722,050 shares, compared to its average volume of 4,514,463. The stock has a 50 day simple moving average of $35.67 and a 200 day simple moving average of $37.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95. The firm has a market capitalization of $43.43 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the company earned $1.41 earnings per share. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be paid a $0.4133 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.69%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is 45.53%.

Suncor Energy 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.