Suncor Energy Inc. $SU Stock: MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd Decreases Position

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 398,378 shares of the oil and gas producer’s stock after selling 10,381 shares during the period. Suncor Energy makes up about 3.5% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s portfolio, making the stock its 9th biggest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in Suncor Energy were worth $27,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC raised its holdings in Suncor Energy by 1.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer’s stock valued at $695,000 after buying an additional 166 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its position in Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after buying an additional 190 shares during the last quarter. Sage Investment Counsel LLC lifted its position in Suncor Energy by 2.4% in the first quarter. Sage Investment Counsel LLC now owns 8,600 shares of the oil and gas producer’s stock worth $569,000 after buying an additional 200 shares during the last quarter. HB Wealth Management LLC boosted its stake in Suncor Energy by 1.1% during the second quarter. HB Wealth Management LLC now owns 18,316 shares of the oil and gas producer’s stock worth $983,000 after buying an additional 203 shares during the period. Finally, Kathmere Capital Management LLC boosted its stake in Suncor Energy by 2.1% during the first quarter. Kathmere Capital Management LLC now owns 11,381 shares of the oil and gas producer’s stock worth $752,000 after buying an additional 237 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.8%

SU opened at $77.56 on Thursday. The stock’s fifty day moving average is $70.62 and its two-hundred day moving average is $62.95. The company has a market capitalization of $90.71 billion, a P/E ratio of 14.28, a PEG ratio of 0.27 and a beta of 0.36. Suncor Energy Inc. has a 52 week low of $38.72 and a 52 week high of $80.25. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. During the same period in the prior year, the business earned $0.71 EPS. Analysts forecast that Suncor Energy Inc. will post 8.76 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a C$0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 4th. Suncor Energy’s payout ratio is presently 31.86%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SU. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $79.62.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.