Lincluden Management Ltd. Reduces Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Lincluden Management Ltd. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 627,334 shares of the oil and gas producer’s stock after selling 7,000 shares during the quarter. Suncor Energy comprises about 2.7% of Lincluden Management Ltd.’s holdings, making the stock its 13th biggest holding. Lincluden Management Ltd.’s holdings in Suncor Energy were worth $22,392,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank grew its stake in Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after buying an additional 333,440 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Suncor Energy by 1.3% in the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after acquiring an additional 180,533 shares during the period. Principal Financial Group Inc. grew its position in shares of Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the period. Finally, Geode Capital Management LLC raised its position in Suncor Energy by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after purchasing an additional 413,797 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.9 %

Suncor Energy stock opened at $39.12 on Tuesday. The company has a market cap of $48.68 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. Suncor Energy Inc. has a 1-year low of $33.26 and a 1-year high of $41.94. The stock’s 50 day moving average price is $38.01 and its 200 day moving average price is $38.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.22%.

Analysts Set New Price Targets

SU has been the topic of several research reports. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.