Guinness Asset Management Ltd Has $11.41 Million Holdings in Suncor Energy Inc. (SU)
Guinness Asset Management Ltd raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 294,962 shares of the oil and gas producer’s stock after buying an additional 30,200 shares during the quarter. Suncor Energy accounts for 2.1% of Guinness Asset Management Ltd’s holdings, making the stock its 24th largest position. Guinness Asset Management Ltd’s holdings in Suncor Energy were worth $11,405,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in SU. Bessemer Group Inc. bought a new stake in shares of Suncor Energy during the 2nd quarter worth $111,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Suncor Energy during the 1st quarter worth $114,000. Hirtle Callaghan & Co LLC bought a new stake in shares of Suncor Energy during the 2nd quarter worth $163,000. First Manhattan Co. lifted its holdings in shares of Suncor Energy by 136.0% during the 2nd quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock worth $162,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new stake in shares of Suncor Energy during the 1st quarter worth $149,000. 65.14% of the stock is owned by hedge funds and other institutional investors.
Suncor Energy stock opened at $36.79 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $62.58 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. Suncor Energy Inc. has a twelve month low of $31.33 and a twelve month high of $42.55.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Tuesday, September 4th were paid a $0.274 dividend. This represents a $1.10 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, August 31st. Suncor Energy’s dividend payout ratio is presently 72.85%.
A number of analysts have recently issued reports on SU shares. JPMorgan Chase & Co. downgraded shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 11th. ValuEngine downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, July 24th. Mizuho started coverage on shares of Suncor Energy in a report on Monday, July 23rd. They set a “buy” rating for the company. Finally, CIBC started coverage on shares of Suncor Energy in a report on Friday, October 5th. They set a “sector outperform” rating for the company. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and a consensus target price of $49.43.
About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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