The Manufacturers Life Insurance Company Has $858 Million Holdings in Suncor Energy Inc. (NYSE:SU)

The Manufacturers Life Insurance Company trimmed its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,011,317 shares of the oil and gas producer's stock after selling 1,150,162 shares during the quarter. Suncor Energy makes up approximately 0.7% of The Manufacturers Life Insurance Company's portfolio, making the stock its 20th largest position. The Manufacturers Life Insurance Company owned approximately 1.93% of Suncor Energy worth $857,999,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC raised its position in Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Suncor Energy in the fourth quarter worth $35,000. Lee Danner & Bass Inc. acquired a new position in Suncor Energy during the fourth quarter worth $36,000. Golden State Wealth Management LLC acquired a new stake in Suncor Energy in the 4th quarter worth approximately $39,000. Finally, Covestor Ltd boosted 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 worth $39,000 after purchasing an additional 256 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Bank of America initiated coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Five equities research 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.20.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up $0.40 during midday trading on Thursday, reaching $35.69. The company had a trading volume of 4,798,893 shares, compared to its average volume of 4,478,970. The stock has a fifty day simple moving average of $35.97 and a 200 day simple moving average of $37.61. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $44.01 billion, a price-to-earnings ratio of 10.35, 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 issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.47%. Suncor Energy's dividend payout ratio (DPR) is currently 45.51%.

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.