Suncor Energy Inc. $SU Shares Sold by Canoe Financial LP

Canoe Financial LP lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,300 shares of the oil and gas producer’s stock after selling 102,200 shares during the period. Canoe Financial LP’s holdings in Suncor Energy were worth $7,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ascent Group LLC boosted its holdings in Suncor Energy by 4.7% in the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 260 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Suncor Energy by 27.6% in the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 309 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in shares of Suncor Energy by 18.4% during the second quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer’s stock worth $78,000 after purchasing an additional 323 shares in the last quarter. Allworth Financial LP increased its position in shares of Suncor Energy by 29.0% during the second quarter. Allworth Financial LP now owns 2,021 shares of the oil and gas producer’s stock worth $76,000 after purchasing an additional 454 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 464 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company started coverage on shares of Suncor Energy in a research note on Friday, October 17th. They set an “equal weight” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Finally, Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $65.00.

Suncor Energy Trading Up 0.2%

SU opened at $43.24 on Friday. The business’s 50 day moving average price is $42.65 and its 200 day moving average price is $40.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The stock has a market capitalization of $51.96 billion, a PE ratio of 14.18 and a beta of 0.46. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same period in the previous year, the firm earned $1.48 EPS. 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 disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is 56.39%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.