Dividend Assets Capital LLC lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 33.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,029,670 shares of the oil and gas producer’s stock after selling 512,692 shares during the period. Dividend Assets Capital LLC’s holdings in Suncor Energy were worth $30,066,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its position in Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 1,733 shares during the period. Howe & Rusling Inc. boosted its position in shares of Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 670 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 42 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock valued at $130,000 after buying an additional 238 shares during the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Suncor Energy during the fourth quarter valued at $152,000. 65.62% of the stock is currently owned by institutional investors.

Suncor Energy Inc. (NYSE SU) opened at 32.41 on Friday. The company has a market cap of $53.78 billion, a PE ratio of 25.16 and a beta of 0.82. The firm’s 50 day moving average is $30.63 and its 200 day moving average is $30.94. Suncor Energy Inc. has a 52-week low of $25.70 and a 52-week high of $33.79.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th will be paid a $0.2552 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, August 31st. This is an increase from Suncor Energy ‘s previous quarterly dividend of $0.24. Suncor Energy ‘s dividend payout ratio is currently 77.87%.

Suncor Energy declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 26th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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Several equities analysts recently weighed in on SU shares. Zacks Investment Research cut shares of Suncor Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Simmons dropped their price target on shares of Suncor Energy from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Scotiabank cut shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 9th. National Bank Financial started coverage on shares of Suncor Energy in a research report on Tuesday, June 27th. They issued an “outperform” rating on the stock. Finally, Piper Jaffray Companies dropped their price target on shares of Suncor Energy from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, July 3rd. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $42.10.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

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Institutional Ownership by Quarter for Suncor Energy  (NYSE:SU)

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