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Guinness Asset Management LTD Has $17.22 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Suncor Energy logo with Oils/Energy background

Guinness Asset Management LTD reduced its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,539 shares of the oil and gas producer's stock after selling 27,235 shares during the quarter. Guinness Asset Management LTD's holdings in Suncor Energy were worth $17,220,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SU. Johnson Financial Group Inc. purchased a new position in shares of Suncor Energy in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new stake in Suncor Energy during the fourth quarter worth approximately $25,000. Optiver Holding B.V. purchased a new stake in Suncor Energy during the third quarter worth approximately $29,000. Benjamin F. Edwards & Company Inc. lifted its stake in Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 313 shares during the last quarter. Finally, Adirondack Trust Co. lifted its stake in Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer's stock worth $34,000 after purchasing an additional 313 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SU shares. The Goldman Sachs Group boosted their target price on Suncor Energy from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, May 23rd. TD Securities boosted their target price on Suncor Energy from $52.00 to $57.00 and gave the company a "hold" rating in a report on Wednesday, May 22nd. StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a report on Wednesday, June 12th. Raymond James raised Suncor Energy to a "hold" rating in a report on Tuesday, May 28th. Finally, Morgan Stanley upped their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.67.


Read Our Latest Stock Report on Suncor Energy

Suncor Energy Price Performance

SU traded down $0.46 during trading on Friday, reaching $36.68. 3,676,587 shares of the stock were exchanged, compared to its average volume of 5,970,779. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. Suncor Energy Inc. has a 1 year low of $28.07 and a 1 year high of $41.50. The business's 50 day moving average price is $38.77 and its two-hundred day moving average price is $35.48. The company has a market capitalization of $47.01 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 3.52 and a beta of 1.11.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th will be given a dividend of $0.395 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 annualized dividend and a yield of 4.31%. Suncor Energy's dividend payout ratio (DPR) is presently 35.19%.

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.

See Also

Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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