Bank of New York Mellon Corp Sells 472,448 Shares of Suncor Energy Inc. $SU

Bank of New York Mellon Corp decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,065,809 shares of the oil and gas producer’s stock after selling 472,448 shares during the quarter. Bank of New York Mellon Corp’s holdings in Suncor Energy were worth $128,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its stake in shares of Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after buying an additional 9,378,552 shares during the last quarter. Fisher Asset Management LLC lifted its position in Suncor Energy by 49.6% during the second quarter. Fisher Asset Management LLC now owns 8,372,012 shares of the oil and gas producer’s stock worth $313,532,000 after acquiring an additional 2,777,150 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Suncor Energy by 29.5% during the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock worth $395,649,000 after acquiring an additional 2,406,000 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Suncor Energy during the second quarter worth approximately $74,767,000. Finally, Vanguard Group Inc. grew its position in shares of Suncor Energy by 3.1% in the second quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock valued at $2,046,442,000 after purchasing an additional 1,632,247 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 1.4%

Shares of Suncor Energy stock opened at $52.96 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $54.80. The company has a market capitalization of $63.21 billion, a price-to-earnings ratio of 17.36 and a beta of 0.46. The firm’s 50-day moving average price is $46.02 and its two-hundred day moving average price is $42.56.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a yield of 4.5%. Suncor Energy’s dividend payout ratio is currently 56.39%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SU shares. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company assumed coverage on Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating for the company. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Suncor Energy 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.