Suncor Energy Inc. (NYSE:SU) Position Trimmed by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. decreased its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,181,095 shares of the oil and gas producer's stock after selling 587,395 shares during the quarter. Suncor Energy makes up approximately 1.5% of Letko Brosseau & Associates Inc.'s holdings, making the stock its 22nd largest holding. Letko Brosseau & Associates Inc. owned 0.18% of Suncor Energy worth $77,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of SU. HHM Wealth Advisors LLC raised its holdings in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after purchasing an additional 325 shares during the period. Crowley Wealth Management Inc. acquired a new stake in Suncor Energy during the 4th quarter worth approximately $35,000. Lee Danner & Bass Inc. purchased a new position in Suncor Energy in the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new position in Suncor Energy during the fourth quarter valued at approximately $39,000. Finally, Covestor Ltd lifted its position in Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Analysts Set New Price Targets

SU has been the topic of a number of research reports. StockNews.com downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a "neutral" rating for the company. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Finally, Scotiabank raised Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Down 0.4%

NYSE SU traded down $0.14 during mid-day trading on Wednesday, reaching $36.27. 2,597,631 shares of the company's stock traded hands, compared to its average volume of 4,550,795. 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 Inc. has a 1-year low of $30.79 and a 1-year high of $41.95. The company has a fifty day simple moving average of $35.67 and a 200-day simple moving average of $37.37. The company has a market cap of $44.72 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 2.94 and a beta of 0.79.

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, topping analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same quarter last year, the company earned $1.41 earnings per share. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a $0.4133 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.56%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is presently 45.53%.

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.