Canada Pension Plan Investment Board Sells 2,066,900 Shares of Suncor Energy Inc. (NYSE:SU)

Canada Pension Plan Investment Board cut its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 24.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,386,235 shares of the oil and gas producer's stock after selling 2,066,900 shares during the period. Canada Pension Plan Investment Board owned 0.51% of Suncor Energy worth $227,664,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SU. Sanctuary Advisors LLC grew its stake in shares of Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer's stock valued at $3,035,000 after purchasing an additional 20,081 shares during the period. Jones Financial Companies Lllp raised its position in shares of Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock worth $2,421,000 after acquiring an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC bought a new position in Suncor Energy in the fourth quarter valued at about $300,000. J.W. Cole Advisors Inc. acquired a new stake in Suncor Energy in the fourth quarter worth about $236,000. Finally, Bank of New York Mellon Corp lifted its position in Suncor Energy by 104.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock valued at $110,017,000 after purchasing an additional 1,573,726 shares during the period. Institutional investors own 67.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Royal Bank of Canada restated an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Five research 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 data from MarketBeat.com, Suncor Energy has a consensus rating of "Moderate Buy" and a consensus target price of $59.20.

Suncor Energy Stock Performance

Shares of SU traded up $1.03 during trading hours on Tuesday, hitting $35.59. The company had a trading volume of 1,311,367 shares, compared to its average volume of 4,922,819. The firm has a market cap of $44.03 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.94 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $36.57 and a 200-day moving average of $37.80. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.48%. Suncor Energy's payout ratio is presently 45.51%.

About Suncor Energy

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.